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Re: farooq post# 5776

Wednesday, 10/04/2006 10:15:04 PM

Wednesday, October 04, 2006 10:15:04 PM

Post# of 31925
I shorted some shares near the close, because I thought this move needs to be retested, but after running my program tonight it is giving me a 47 % chance that we might go actually up to 41.90 before retracing the up move.
Here is a question for the board; will you cover short position if you have a profit in the morning and re short when it reached to new level of resistance or just stay with your short?
2- Will you buy November puts for new position or October? I am thinking to buy some 41 Puts tomorrow if we reach to 41.90
I would have been very comfortable if we had touched the 41.50, I do think we can reach to 39.03 levels before this month option expiration.
Farooq
Pokersam,
All other boards were right and we were wrong in our trading short term, that is a sad truth, so other boards cannot be good contrarians indicators. Good luck.

Farooq
This post is for educational and amusement purposes only, and is not to be interpreted as trading advice. Consult your financial adviser before placing any trade.

http://investorshub.advfn.com/boards/board.asp?board_id=4514

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