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

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To: Patrick Slevin who wrote (8166)	11/9/1998 4:04:00 PM
From: Tom Trader	Read Replies (3) of 44573

Patrick, I think the downside is limited I doubt that we'll see the 1114 level that we saw a few days ago. Basically, as you know, when one has a very strong move in one direction the first signal in the opposite direction will be of limited duration -- almost invariably. A correction of 3% from the highs would be about 35 points or so and that would take us to the 13 to 14 level. I did go long the bonds today and closed out the short for a profit of just less than 2 1/2 points--good trade As an aside, I saw a guy being interviewed on a financial channel whose name rang a bell -- and whose face looked familiar, though he had aged. I actually unmuted the sound to hear him and make sure that he was who I thought that he was--since I'd recognize his voice. I worked with him very closely--spending weeks and weeks with him-- about a decade ago assisting him with acquisition structuring in connection with several acquistions, for a start-up company, where he was the CEO. After the first major acquistion he completed, he even offered me a job with the company --- that I declined. Now what blew my mind is that he now apparently runs a hedge fund -- though I did not know that until the interview--because based on my knowledge of his background and skills -- and believe me when I say that I know him very well, in a professional capacity-- he just does not have the background for the hedge fund business. He is a sharp guy -- but not in that arena-- unless he acquired a lot of knowledge fast over the past decade. May be he has people who know the stuff and he just owns the outfit. It did make me wonder about the people who run hedge funds!! A really scary thought in a way. Talk to you guys tomorrow

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