January Effect 2003 Message Board

STOCKTALK

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Strategies & Market Trends : January Effect 2003

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To: Londo who wrote (576)	6/19/2003 7:34:35 PM
From: RockyBalboa	Read Replies (1) of 666

I don't know why but for me it was so obvious to buy the EUR as well as the bonds (I paid a very good price for EUR bond futures). The "coils" are very small congestion zones with high turnover. They must be at or ahead of support lines, never below (today they appeared at about 6:40 - 6:50 and right at a major short term & long term support of the EUR. I believe if that would got broken for the day then we would try lower. But this was not in the cards. It is a bullish signal, comparable with a triangle or the red-dogi-white sequence, only measured on 3 to 6 minute charts. Inspecting the tape shows high turnover but if it is ahead of support and followed by a small breakout to the upside (usually the preceding drop is rather small in size - not to exceed 20, 25 pips) the bulls definitely won. Having shorted the stock indices in advance I am pleased with the other results, so far. I think we should bury the bull for some time.

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