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

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To: VALUESPEC who wrote (79)12/12/1997 12:03:00 PM
From: VALUESPEC  Read Replies (1) of 350
 
I'm glad my report is being appreciated. I didn't really expect it to gain much attention, but I'm glad if the reading is interesting :o)

Ratan, it is a shame you missed the short this morning. Maybe next trade? Your support number is holding @ 966.

I sold covered the short I just made when IBM started to go back above $ 99, briefly. Apparently, everyone else had the same idea. If I had known my market would have been filled so high, I wouldn't have put the order in. I think I got the brief, high tick. Filled @ 977.40. That was quite disappointing. I almost shorted immediately, but I didn't and it dropped really fast (maybe I would have had the low tick that time!)

Here it goes again. Big Blue is making new lows. Down to 98.50b

IBM could sell off another 2 pts easily. EPS, net of sharebuybacks and tax breaks, are hardly growing. Coupled with curency and asian exposure and recent downgrades . . .
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