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

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To: Temple Williams who wrote (40282)	1/30/2000 5:44:00 PM
From: Jerry Olson	of 44573

Hi Temple.. yeah i was on the Floor too...i almost peeed myself<VBG> on the P&F charts SPX, we are right at what we call the bullish support line at 1360.00..normally we would expect a bounce up off that line, to retrace the second sell signal from 1385 a double bottom...1st sell signal was at 1425... my guess is we rally up here to another lower top maybe 1390/1400 area, where i would then short that, looking for one more move down.... we follow 5 indicators 2 short and one medium have turned down, but the Main Coach the NYSEBP has not just yet... if the big boy moves down here, we would put the defense on the field...and then wait for the the short term indicators to turn up again.... i can say, that all these indicators moved lower from a modest area on the charts..they were not overbought..like in the 70-80% area...they were more like in the middle, the 50 yard line if you will... so we do not see any sort of crash senario...more of an orderly correction, and then we'll wait and follow our indicators from there... i see your bullish, not more than me and IKE<G>.... us dip buyers are waiting with open arms, hoping the street starts hollarin' Crash....they will, i feel panic in them thar hills...watching the VIX, would dearly love to see that spike up to 40-50...we are near 30 right now...rally area... anyway..enjoy your comments.... oh yeah..fwiw..it freakin' snowing here in Philly right now...i refuse to shovel tho<G>...screw that....

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