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

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To: GROUND ZERO™ who wrote (14959)	2/7/1999 10:00:00 AM
From: Jerry Olson	Read Replies (2) of 44573

Morning GZ and all.. actually GZ IMO, you already knew the senario, but were too bullish to admit it<g>..... i too became way too bullish even though my friends on the P&F thread kept saying, hey idiot, the indicators are "ALL" on sell signals!!!! some times we just don't "want" to see the forest for the trees..:>} anyway..as of last week the NYSEBP gave a sell signal..this usually means a selloff is coming quickly...however because of the position of this indicator i feel all BK's are out, and the downside will be probably 10%, this time around.. in July of last year the NYSEBP was at 74%, when it gave that sell signal, and then we promptly tanked 20% in short order...here it's at 50% with a downside move to 25-30%, which would signal me to buy that dip...stocks will be onsale...just not fire sale... anyway i'm still in OEX puts for the moment, 3 open option positions and LCOS for the rumor<g...lot's a cash sitting waiting to take the plunge even before the reversal signal... leaving tomr. for NYC, then out to the Islands...will be in and out today... Later

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