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

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To: GROUND ZERO™ who wrote (6797)	10/20/1998 9:46:00 AM
From: Tom Trader	Read Replies (2) of 44573

Hi GZ--your system gave a very timely buy signal Market seems to have a fair amount of momentum and so I suspect that the next decline will be a short-lived affair before we bounce up again. One interesting thing is the switch in sentiment that has occurred where the bearish case has for the most part been ignored or dismissed --amazing how much difference a week can make. I am looking to go long this next decline unless a sell signal is triggered on my system -- also looking to short some OEX puts-- although premiums have dropped markedly. Schwab called me today to tell me that they had some AMZN available for shorting today--if I wanted to do so. I guess the guy who has been taking an interest in my OEX trades recalled that I mentioned to him that I was looking at shorting the stock at some point -- pretty good service for a discount broker, right?? Told them I did not -- but thanks for asking -- now what does that tell you about the sentiment of the market--that AMZN would be available and that they'd call to ask me if I'd like to short the stock. The futures gapped up and are showing no signs of wanting to decline as of yet. I noticed that Iqbal was saying that his pit sources are saying that they want to run this up to 1130!! Does your system call for you to take profits at some point or only when you get a sell signal??

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