AI
Monday, February 23, 2004 10:11:35 AM
Intraday chart today of LOW..gap 'n crap after Friday's successful run.
Traders never hold stocks that have gone up in anticipation and sharply long through the report. We left not one share, called profit takin in the calls (except a small amount of calls for a hedge) and picked up cheaper puts when Low was at the time of its trading range. Now we have other earnings plays and momentum plays triggering at the samew time and basically by 11:00 the major trading will end for the session (2:00 we might reverse from short to long, but basically the same stocks)
Traders never hold stocks that have gone up in anticipation and sharply long through the report. We left not one share, called profit takin in the calls (except a small amount of calls for a hedge) and picked up cheaper puts when Low was at the time of its trading range. Now we have other earnings plays and momentum plays triggering at the samew time and basically by 11:00 the major trading will end for the session (2:00 we might reverse from short to long, but basically the same stocks)
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