S&P Index Futures (Daytrading SP) Message Board

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

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To: ratan lal who wrote (34)	12/10/1997 1:13:00 PM
From: VALUESPEC	Read Replies (1) of 350

I decided to go short again @ 967.10. This market hasn't rallied yet, so I guess it wants to go lower. I probably will only risk 3-4 pts against me in order to make sure I have a good day. Here's part of my reasoning for still being short. If you were a fund manager would you want to be long overnight, wondering how asia will react to today's market activity? If the US market rallies and has a strong finish, then the foreign markets aren't such a concern. However, with US international company's profits in question, I don't think today is very likely to be a strong day. Plus, the manager's confidence is probably shaken after today's, appparently, strong sell-off. This market had a nice run-up, they must realize it could fall another 20pts and not even be a big deal. Why risk holding overnight? Hence, US markets end at low for the day which spills over into selling in the overseas markets which, in turn, gives fund managers at least a bad morning.

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