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Strategies & Market Trends : E-Mini Pit
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To: the-phoenix who wrote (554)2/14/2002 5:15:05 PM
From: Louis V. Lambrecht  Read Replies (2) of 11288
 
phoenix - LOL. Made my decision end-Nov, early Dec 2001 to go short the Dollar, long gold.
So far, am long gold and still waiting for a good entry (time/price) to short the indexes.
If long gold seem to have been timely, I still expecty some surprises from the indexes.
Unrest comes from the VIX/VXN which I expect to print lower and from the OEX only PCR (whch prices in line with the index).
There is a lot of O/I on the OEX options, high PCR which I interpret as smart money buying puts to protect their investment.
10 and 21 DMA on OEX PCR turned up on Feb 08, and this is bullish.
So, IMHO, intermediate trend is up to flat for the rest of the quarter.
Range is too small to trade the futures (confirmed buy the ranges: 40pts for the nasty and 8 pts for the spoo today).
Not the kind of risk/reward ratio that would attract me to futures currently.
Waiting my time and trading my plan if the market confirms.
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