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Strategies & Market Trends : A.I.M Users Group Bulletin Board

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To: OldAIMGuy who wrote (6188)11/11/1998 6:11:00 AM
From: Bruce A. Bowman  Read Replies (2) of 18928
 
Hi Tom- Funny how those numbers have to go up if we're making money in the markets! :-) I managed another sell in EGRP today at 26-1/2 which brings me to the minimum cash reserve of 28%. Finally made it. EGRP went on to hit a high of 28+, then turned on a dime and headed for the basement and closed down for the day. I'd loved to have gotten the sell at 28, but I'm so relieved that I have some cash again that I'll ignore it!

Some of the s/w that I look at pretty regularly has shown a change in trend for the last several days. Also, one of the traders here on SI whose opinion I value a great deal says that he's showing 92% unconfirmed sells and over 90% confirmed sells. When the numbers get over 85%, this is usually a sure sign that we're in for a correction. It says nothing about severity... only that the fish are out of the barrel and we're going to have to go back to working for our profits again.

Bruce
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