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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: TradeOfTheDay who wrote (3458)9/8/1998 2:53:00 PM
From: Tom Trader  Read Replies (2) of 44573
 
It think that today's action by the close and tomorrow's action in the first couple of hours should tell the story as to the legs that this rally has.

If it closes strong today and then continues to rally tomorrow then a short squeeze is on the cards. But there are a lot of negatives that should cause uncertainty ranging from the Starr report to Asian problems and of course the earnings season. So it seems unlikely that this is going to be an easy path up. Now all of the above in a strong market would be easily handled--we have seen the market able to ignore bad news when things were rosy in terms of market psychology and dynamics--but that is not where we are now.

I am willing to pay it in either direction--does not matter to me whether the money is made on the short or long side.
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