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

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To: GROUND ZERO™ who wrote (8323)	11/11/1998 3:57:00 PM
From: Patrick Slevin	Read Replies (1) of 44573

Speaking of positioning, one has quite mixed feelings, I must say, when the day trade is definitely a short and one has a long positional trade on. Early guess is tomorrow also opens strong ... trapping the shorts, then retreats as well. I have to check the charts later to assure myself the read is correct, the "normal" pattern may have been overrun this afternoon. One indicator I look at is real simple for day trading, a 34 tick MA on a 5 minute chart. Each time today the market arose to that bar it was repelled. There it is again right now. Just a constant stream of selling. Well, see you tomorrow. I tried graphing the fork on SPX using the machine but it would be better if I just print it after the close.

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