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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin!
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To: Patrick Slevin who wrote (1854)12/10/1999 11:45:00 AM
From: John Pitera  Read Replies (2) of 7434
 
Hi Patrick, I am told that their is institutional selling in the spoos pit from MER, SSB and a 3rd firm as well.

Henry V gets around on SI, he posts on the currency thread among other places.

I used the 1442 number to sell this morning up in that area.

PETER GRENNAN 12/10/99 SP GLOBEX HIGH 1442.50;LOW 1427.90;CLOSE 1438.50
. Both sp mar futures and sp 500 cash tested their respective lows for
December yesterday and thus far these tests are successful. Lows were made
December 1, at 1406.50 for sp mar and 1387.38 for sp cash index. Yest lows
were 1410.50 for sp mar and 1391.47 for sp 500 cash. Sp still has resistance
to overcome. Comparable levels to the old 1420-1422 for dec sp are 1440-1442
for mar sp. If sp is able to trade over 1442.50, sp will break out of short
term negative pattern that has been in force since last Friday's second hour
high. Make initial resistance same as yest at 1429-1435. Over 1435.50, 1438-
1440. Over 1440.50, 1442, and over 1442.50, opens way to test Tuesday's high
1449.50. This week's high is 1455.50 seen Monday. Initial support assuming
sp opens above its first resistance will turn into 1429-1435. Under 1428.50,
1425-1426. Under 1424.50, 1420-1422. Fair Value+1881;Buy+2040;Sell+1720
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