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In a message dated 98-09-25 12:49:21 EDT, you write:
<< Ben,
Did you hold your 1060 SPZ's thru the down draft? Did you buy any more at
lower prices?
Simply interested in how you handle moves that are going against you. Do you
view them as opportunities to get in at better prices?
Dave >>
hello all
as you know i also have 6 nov sp puts bought when sp was at 1060-1065
so when i have a dd (long 3 sp and long 3 yx8z) i do not worry
when sp is 20 points above my buying price,(on a closing bassis)
i sell the 6 puts at a loss
(at that point i am ahead 3*20 on sp and 3*10 on yx8z)
i never avrage down, when sp close 25 points up will add 1 sp and one yx
happy trading
Ben
p.s monday is a 99% down day
use it to go long 401k and long sp
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