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

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To: Tom Trader who wrote (7933)	11/5/1998 3:05:00 PM
From: Patrick Slevin	Read Replies (2) of 44573

< the resilience of the market is amazing> Yes, picking tops is a high wire act. Like Suresh alluded to, a direct run up sounds dangerous longer term but I would not doubt it. A pullback to the teens sounds unrealistic; too much momentum would come off, don't you think? There is an old school of thought; this 33 level has been challenged twice. The third time (rarely, the fourth time) there is a high percentage likelihood of it going through and usually with power. So if one were to subscribe to that line of thought, it would be unwise to be caught on the wrong side once it returns in that direction. So, I think I shall position myself somehow for a long entry. This Carpino thing that you, Fred and Suresh are speaking of has me a bit cautious though. I heard from Coug, he nailed 6 in a row before missing one yesterday. <this position trading thing is not all bad! > Yes, only what the hell do I do with all the time I will have on my hands, work around the house like Nemer for God's sake?

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