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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Arik T.G. who wrote (3358)9/8/1998 10:08:00 AM
From: Tom Trader   of 44573
 
Hi Arik--

Given the magnitude of the move by the futures--short of a major reversal today one has to respect the short-term trend--which at this point is up.

I closed out the short futures position on the globex--and took a loss of 25+ points on this trade--very painful. In the next few minutes, given where we are in the futures, I will have a buy signal on the futures--however given the way my system works, I cannot take this buy signal and go long because of the momentum on the downside. I can take a buy signal only after we have another sell signal first and that would assume that the momentum on the sell signal is not excessive.

Closed out my AMZN and ELNK shorts -- a small profit on the former and a small loss on the latter.
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