Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: ratan lal who wrote (18957)	5/22/1998 12:45:00 AM
From: Bull RidaH	Read Replies (1) of 94695

Ratan, Believe me, I'm as nervous and skeptical about a selloff following through now as anybody. That's why I'm making this thing sell down through 1115 before I start getting real aggressive with positions. I had the good fortune of shorting with an average basis of 1125.4 today, so I will let this thing run up to 1124.30 before I stop out. But I'm hoping the 61.8% retracement area will hold from today's 1128.80 high to the 1114.50 low (which is 1123.30). I'm not going to let this whale hurt me no matter what it does. But we all know the market has been sick, and this wave read makes more sense for down now than any that have preceded it. Good luck and good trading, David

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