TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: TATRADER who wrote (10328)	7/16/1999 10:22:00 PM
From: JACK R. SMITH JR.	Read Replies (1) of 59879

TRADER, Subject here --Jack eats Crow! I am calling for a retracement to 1380 and the S&P moves above the Tuesday high and makes a fool of Jack! Not the first time, nor the last. Back for more abuse. Looks to me like we are clear for a rally to the 1455-60 area here. Not that we will not retrace to near the breakout point above this weeks high. The spectre of the "summer rally" being forshortenen drastically during the month of August remains as an extreme concern. Second support just above 1400 on the S&P in my view. We have here some extreme dynamics in place. While the securities are making continued extreme highs, the basic commodities are making exreme lows. Not that this cannot continue for some time given status quo. The simple fact is that the dynamics set up the potential for extreme movements. Timing is the issue. Clearly the future of the securities market is in flux and change, and clearly there will be extreme potential in the technology areas. There will certainly be volatility while the market marks the worthy targets and certainly here the market is grabbing anything that appears to have potential. Grabbing air in some cases and grabbing the roots of great trees in other cases. Simply the greatest of times for good "daytraders". I am not one, but studying. Please hone your shorting skills, TRADER, for they will be very useful past the August time frame, perhaps. Fully admitting that todays market fooled me, Jack! Regards to all, and I certainly love the dialogue here and will be away for a while and wish you all very good luck in your trading. Foolish, Jack!

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