Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 695.17

+0.2%

Jan 12 4:00 PM EST

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To: Clint E. who wrote (17932)	10/8/1998 4:55:00 PM
From: space cadet	Read Replies (2) of 69695

Clint, the market closed strong so unless all we know is wrong tomorrow should be a very strong day. Unfortunately for me, I got stopped out on my single long right at the close. I made a quick 2 grand so I can't complain but I see tomorrow being a huge up day. I am one of those late shorters- that's why I went long because I wanted to hedge my position a little. Fortunately I sold some covered puts on some of my shorts and sold some other put positions so I should be ok for this blast tomorrow. Let's see how high and how long it lasts. I'm still expecting some government action to soothe the market but maybe the market showed it doesn't need it today. Favors is away till Sunday night so I'm all alone now without my new guru! He's saying this is just a bounce not a recovery unless it gets past a certain number on the dow- 78 something. I think tomorrow we may hit his number so it will be interesting to see what he says Sunday night. I noticed Acampora is parroting Favor's 6700 number as well. My guess is we rally for two days bigtime and after that who knows... PS I will be watching closely those stocks that fail to move up sharply tomorrow. In my mind they are good shorting material...

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