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Gitanshu:
What charting platform and data feed are you using?
I have developed some troubles with my BMI cable feed and am looking for
some alternatives. I would like to stay with TS4.0, but doing so limits my
options. Any suggestions?
Lamont Cranston
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----- Original Message -----
From: Gitanshu Buch <OnWingsOfEagles@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, June 21, 2000 10:15 AM
Subject: [RT] MKT: Dow DJX
> Old position: With the Dow at 10,600 (ie DJX at 106.00)
>
> Long Jul 108 c
> Long Jul 104 p
> Paid $3.25
>
> Adjustment today: With the Dow at 10,440,
>
> Bot Jul 106 call
> Sold Jul 108 call on a spread.
> Paid 75 cents.
>
> Total position cost: 4.00 (equivalent to 400 Dow points).
>
> Reasons:
> a/ Brings call side closer to current price
> b/ 10.6 is a cluster of ma''s, so if it rallies there is good breakout
> potential
> c/ 10.4 - 10.2 zone is a cluster of swing lows and bottom of triangle so
if
> it breaks there is good breakdown position.
>
> Backup alternatives:
> a/ If it flatlines, I sell 105 straddle for $5.00
> b/ If I still don't like it I roll to Aug. As long as this chart pattern
> stays unbroken, I keep taking potshots at it.
>
> Unlikely to stay this way, all you Energy Pointers will make it move <g>
>
> Chart attached. No other index positions.
> Gitanshu
>
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