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Strategies & Market Trends : S&P Index Futures (Daytrading SP)

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To: ratan lal who wrote (29)12/10/1997 11:33:00 AM
From: VALUESPEC  Read Replies (1) of 350
 
Hello, I will have company here ! I don't buy/sell futures everyday, but lately I have been.

I shorted a second s&p dec futures @ 974.70 ((now I'm short two) on the morning ralley attempt. The s&p should/could fall at least another 5 pts today. Techs continue to look weak. I'm following them for market sentiment (IBM, INTC, MSFT, CSCO, and DELL).

Dec s&p is now at 972.00

I can't even understand why the market is not selling off more. There are some good reasons to be fundamentally concerned (asia, strength of US dollar around the world, etc.). If it weren't for the large inflows of money coming into the market because of retirement money, I'd be really optimistic. However, it is hard to how the funds will react since they know they will probably be getting more cash no later then Jan 1998.
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