Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Haim R. Branisteanu who wrote (8873)	11/1/1997 6:42:00 PM
From: William H Huebl	Read Replies (1) of 94695

Hi Haim, I read it in one of the books on what happens on the CBOT trading floors... when prices tend to center around one price, the trading is called "response" trading as when the prices stray away from the that center price, the floor traders' "response" is to bring it back to that center price. So that would be the same as prices in a trading range around some center point. The term "translation" and I think that is the word that is used, means that prices are trending either up or down. So the floor traders will gradually move their prices in the direction of that trend. The way I understand it is the floor traders detect and go with whatever pattern is appropriate, knowing it can change at any time... They work in the micro world and we work in the macro. So the same thing applies to us on a greater scale. Thus far it would seem we are in a response type of situation with the upper end being around 7,600 and lower end around 7,000. Is this like 1987? That depends upon whether we are in Sept or late Oct 1987. Only time will tell. And there is NO unanimity in my indicators that we have found a bottom yet. Regards, Bill

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