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

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To: donald sew who wrote (7554)	10/30/1998 10:20:00 AM
From: Tom Trader	Read Replies (1) of 44573

Don, I don't disgree with you that we may level off by Monday or Tuesday and that we could sell-off somewhat--after the elections has a nice ring to it. I sold short some OEX puts yesterday after I got the buy signal and established bullish spreads on the calls. So rightly or wrongly, I am now firmly in the bullish camp -- though I am not wedded to that point of view by any means and when I get a sell signal, I'll reverse course again. The fact that the futures broke through resistance at the 90-92 level yesterday is what causes me to feel that there is additional upside. Also keep in mind that though the DOW did not make new high in relation to your stair-step approach, the SPX, OEX and some other indices have done so either today or yesterday. So it is possible that the DOW will lag for a bit and then play catch-up.

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