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Strategies & Market Trends : Position Trading Forum
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To: Tim Luke who wrote (1051)9/8/1998 11:21:00 AM
From: IQBAL LATIF  Read Replies (2) of 7247
 
I think the pits will run this thing to 1015- I have a feel that pits like to think they can get out of their long their, but I think the stops a few points higher are too lucrative, a composite bounce from the lows is also attractive so my information is that 1012 high will again be tested and they would like to go thru the stops of the shorts-- if these stops are run we have a rally setting up to 1070=1067 area right now we need to keep it up 1002-- the bounce of Friday they tell me was to find if the selling have exaushted too a extent that even on a Friday bounce a rally can come, that rally spoke of volumes.However we have to see this 8139-50 level on the top to reestablish legitimacy of this run --profits need to be protected and safegaurded- the real trade was to be prepositioned for this rally, but this is just another day for doomsdayers it was to be ASEA down, Europe down, Bonds up, US to zilch-- alas it never happended like it never happened when we had this bounce off 200 days MA on composite.. but the victory is too far and the way is tough- the only way is know the fundmentals which drives Global markets well-- my thread is one small example of that effort, I am failure or successful that matters less what matters is that my macro econokmic interpretation should hit the nail on head. It should not have glaring gaps, day in day out I just try to improve on that little expertise, it is sometime their like lst week all hits and sometime I miss a move-- Thanks for your comprehension..
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