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

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To: Brian Hornby who wrote (18596)	3/14/1999 4:32:00 PM
From: Steve Huskey	Read Replies (1) of 44573

I think it takes alot of guts to short at this point. I also think the fundies of the market (A/D and New highs to lows specifically) also looks weak so I have mixed feelings. Looking at just price however ... I mean this is EXACTLY what a major breakout looks like just as it is starting. I think we have to give that the most weight. If it were going to reverse, it would do so abruptly just after making the breakout. It has not. Anyway, if it breaks down hard on Mon open piercing 1285 I might go with a short... but not on a further upside breakout. That would be a sign of strength to me. The start of another wave up. A time to go long. I wonder why they burned the premium so late in the day. The Spoo move down was more severe than the cash. The cash chart and DJA charts are holding their bases much better. What usually happens after they burn the premium like this? Steve

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