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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: SE who wrote (1505)	7/16/1998 11:00:00 AM
From: Patrick Slevin	Read Replies (1) of 44573

There just is no early indication of buyers. Nothing suggests a rapid decline but upside looks like a stairstep issue. It might slowly go up 2 or 3 then rapidly lose most or even more of it, as buying appears to be limited to scalp trades just now. Although I thought of shorting earlier in the week if it broke 78, I don't think breaking 78 is the key----at least not the first time. After failing at 78 and then recovering, if it were to fail there again that would be a short entry for me. Other than that, I don't have the time to take a long side position which might not pan out for hours.....unless I join in on scalp trades with the rest of the crew.

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