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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Jerry Olson who wrote (13105)	1/19/1999 10:40:00 AM
From: SE	of 44573

Yes it is good. A few follow the adding and draining of reserves and are convinced that they play an important part of the current direction of the market. If you go here you can see the last couple weeks action. biz.yahoo.com Notice the draining of reserves as the market is dropping and the adding which stabilized it as of late. In any event, whomever it was that follows this was planning on going short if the Fed was to drain reserves today...I think I say it on MDA, not sure. Gersh followed this at one time I believe. So if you are long, this is good. EDIT - PS....if you are looking to get long, now that we have dropped I think the 52-54 range is probably a fairly safe long entry.

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