P&S and STO Death Blow's Message Board

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Strategies & Market Trends : P&S and STO Death Blow's

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To: ajtj99 who wrote (5856)	8/28/2002 4:53:58 AM
From: Justa Werkenstiff	Read Replies (3) of 30712

AJ: I think too many people are focused on EOM here. The retrace says it ain't gonna happen. Using Jeff's 3-1 ratio, we are right where we should be on a trip to 1250 or so by early next week. This works into Lee's historical patterns for a rally into Sept. 7th for a BOM jam job from a lower level. I don't know whether it happens. It sure seems unlikely but I guess that is what makes it more of a possibility is that nobody is thinking that way. And from that point the retrace shows a rally to 1328. I hope to be covered before that rally. I think it may be one worth at least covering if not going long. That is eighty points which is a good deal in this projected tight ranged environment. I am not sure if EOM will be worth trading as there is a path to 1250 dead ahead according to the retrace and that is 100 points of bread and butter. And if the retrace holds true, we are in a tight range here for quite a time and profits will go to the patient. General rule for me would be to start covering under 1300 as the retrace shows you would be able to reestablish those positions higher at a later date. The 1300 breach and then the snap back over it would catch many off guard.

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