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Yep, seems so....
Following my own trading plan (others will differ I am sure), October
Sugar ATM Long straddles were put on at a spread value of .62
(Back when SBV8 was trading around 9.00) and .60
The spread is now worth .93 ( + 347.20 per spread value means
307.20 after commissions) Since this was October, and I am trading
in a short time frame, I am outta there myself. For those still interested
in the trade, today may be pivotal. The opening gap made on Friday
must hold today for further down action to be valid. So, if we pull
an "inside day" with lower volume, the pop out of this bar could mean
1 cent in either direction within about 10 trading days. In other words,
if Sugar now trades back, takes out the gap and continues higher,
we may get 9.50. If Sugar lays there like a pig today, and then breaks
out to the downside on Tuesday, we may go 7.00.
OR, we could gap lower today on the open, and Sugar says "sionara"
to the upside...... <g>
Walt Downs
CIS Trading
-----Original Message-----
From: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, August 21, 1998 8:48 PM
Subject: Sugar breakout down.
>Just like Walt suggested 2 days ago, sugar is outa there!
>
>Brent
>
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