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Strategies & Market Trends : P&S and STO Death Blow's
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To: Jeffrey S. Lillie who wrote (17141)11/26/2002 9:20:30 AM
From: ajtj99  Read Replies (3) of 30712
 
Jeff, they drop the futures like that to sucker us in the AM. They get bought about 8-minutes after the open, if not sooner.

If they open much below this area, the wedge will break, and they'll lose the opportunity to distribute shares of junk stocks at the absolute top. You wouldn't want that, would you?

I looked at some junk stocks last night, and some are near the tops of the weekly BB's. Just a nudge more, they'll tag them and be ready for a plunge.

If the wedge breaks, we need to watch the 13-EMA on the 60-minute. Once that gives, it should be a fairly decent risk to short.
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