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

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To: Tom Trader who wrote (3712)	9/10/1998 6:12:00 AM
From: Arik T.G.	Read Replies (1) of 44573

Tom, >>What would the market have to do tomorrow for you to be satisfied that we are headed much lower?? We need to get close to the previous low (Friday's 960) soon, or the panic won't set in. Minimum target for today's close in a crash scenario is lower 980s, with a visit to the high 70s. A classic if we close under Friday's close (971). The crash scenario calls for a larger drop each day. Yesterday was a 2%, so today should be at least close to 3%, that's the high 970s again. Alternate scenarios: The market starts down, but cannot accumulate critical mass of sellers, and ends up crossing the 13 dma (lower 1020s today)- Crash phase is over. The market starts little changed, tries the upside (under 1020) and fails to close up- That's deferring decision until tomorrow. If there isn't a decisive break today, I'll bail out and try again tomorrow. ATG

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