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

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To: Patrick Slevin who wrote (37401)10/19/1999 9:50:00 AM
From: Tom Trader  Read Replies (3) of 44573
 
Thanks, Pat and GZ

The trade was a play based on the likelihood of a decent pop once the target is reached on my position trading system. We have chatted about this in the past, Pat. If it were not for the magnitude of the momentum that we saw on the downside, I'd have stayed with it for a bit.

But we have spiked almost 40 points from the low that we made in the final hour of trading yesterday to the highs of today -- so I am not sure that there is much more upside left in the short-term. Besides my system is technically still short --even though I went flat at 1280 last week.

I did this trade for real as well -- and got out this am at 79.
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