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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: doug-e-mini who wrote (14678)2/4/1999 8:46:00 AM
From: Tom Trader  Read Replies (1) of 44573
 
Morning Doug and all

Sheesh, with all of the optimism that I am reading about where we are headed next, I almost feel out of place here:)

Anyway, if the market gaps up more than 5 points or so, I am going to look at shorting the open for a day trade--probably around the 85 level. I would then look to reverse to the long side -- again for a day trade -- and then look for another sell signal to short the market for another day trade. We could go much higher today but somehow I doubt it.

I think that part of the action will be governed by the release of info as to which way the Fed is leaning based on the recent meeting -- I believe that it is to be released today -- not sure at what time. If they are leaning towards tightening down the line, we'll see a sell-off. Otherwise we could see further upward movement.

For me to get a buy signal on my system today, we'd have to be well into new contract highs on the spoo. If I get a continuation sell signal, I'll add to my short position.
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