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

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To: Daflye who wrote (18765)	3/18/1999 10:26:00 AM
From: Chip McVickar	Read Replies (1) of 44573

Daflye, Well there was a gap down this morning and it closed very quickly. Someone overnight wanted out...... Yesterday the markets bounced around and off 1304 SPX all day... I will take a position on that signal and the T-P at 10:30 and 11:00 will confirm my choice.... The expected 2-3% sell-off has not been confirmed by the markets....yet The traders we are watching have been doing this for years and I quess their intuitions often determin points of sellng or buying. After all part of successful trading is PSYCHIC The Big Kahuna thread has been bearish for sometime and others are looking at cycle positions and others see a failed attempt at staying above a psychological target of 10000. I believe the major players are using 10000 to break the backs of the dumb money....smart money well sell off here to pick up new shares lower down for another run at 10000. This may go on until the perverse thinking of the major market players have had enough fun playing with the mouse.....could take weeks. Chip

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