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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Patrick Slevin who wrote (8300)11/11/1998 10:13:00 AM
From: SE  Read Replies (1) of 44573
 
I am thinking a price in mind....say about 32.00 or better. I don't know about the gap getting filled, but will wait to see. I, like you, expect an entry in the next hour. I am planning on going long in the low 30's and looking for a move to mid 40's.

I think the last couple of days have pretty much worn out the sellers and we are ready for a siginicant move higher over the next couple of days.

The INTC news worked out great. Short the gap opening and plan to reverse. I did not do it, but watched it with great interest.

I don't have the intrady NYSE ADV/DEC, yet, just my overall market ADV/DEC. My end of the day numbers are the NYSE. In any event, the early numbers look good and bode well for the ADV/DEC numbers. Should push this rally out a couple of days I would think before we can start thinking any pull-back of substance. Of course, that theory might be changed in a day or two as the numbers come in, but that is my read this morning.

-Scott

PS - Right now my short term stuff is on a sell with the sell point being right now at 38.00. This next move down should take us to the 35.00 range unless it is stronger than normal, in which case 32 to 34 is not out of the question.
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