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Strategies & Market Trends : Galapagos Islands
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To: Jorj X Mckie who wrote (28959)2/25/2003 11:56:39 AM
From: Frederick Langford  Read Replies (2) of 57110
 
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Market Swing Discussion: Don Sew's Chat Room Notes and Recaps
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Posted by Nikko_thyme on Tuesday, February 25, 2003 - 11:51 am:

Chat Notes : 2/25/03 11:00 AM

Weekly Signals : MIDRANGE

Daily Signals: (From today's intraday low)

DOW, SPX, OEX : OVERSOLD (would take 1-2 days of continued selling to
reach CLASS 1 BUY signals)

NAZ, NDX : LOWER MIDRANGE/OVERSOLD (would take 2-3 days of continued
selling to reach CLASS 1 BUY signals)

Daily Signals: (From yesterday's close)

VIX : MIDRANGE

VXN : CLASS 2 BUY (may have been skewed from option related
activities)

If the market does not rally today and fill the gap, an Island
Reversal pattern will remain on the NAZ, NDX.

Donald is currently holding a 53% short position.

Donald is watching to see if the SPX can make a lower low, if it does
not he may become defensive regarding his short position because that
could be a bullish sign.

He is also considering the potential for an end of month rally to
occur. End of month rallies typically start during the last 2 days of
the month and can last 3-5 days into the beginning of the next month.

If CLASS 1 BUY signals occur Donald is not planning on opening any
long positions. He may sell some of his short positions, but continue
to hold a core short position.

Fred
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