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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: Chip McVickar who wrote (1472)	3/12/2001 4:09:34 PM
From: Michael Watkins	Read Replies (1) of 12411

Beginning to look for a major drop after the 20th...? I try not to get married to any scenario and just let the bars of the moment be my guide. For long term direction I use daily and 45 minute bars - based on that, market had to save itself and move up right away or more downside was almost a given. It had a chance to move up at one point today and failed so I immediately switched gears to position for what I expected to be a big elephant trade. I went short at 1213.75 and stayed there, changing from my typical scalp mode to bigger picture mode. ottographs.com Still in. I only hold overnight if my position is immediately in the green for me and with a nice safe margin. Otherwise I just wait for another day.

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