LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: TonyM who wrote (11282)	3/24/1999 9:20:00 PM
From: LastShadow	Read Replies (1) of 43080

Indices My Bear Fund entries were on 1/19, 2/1, 2/24 and 3/19. SYMBOL NAME CLOSE CHANGE CHANGE % CHANGE % SINCE 3/19 XAU Gold/Silver 62.8 1.66 2.71% 0.53% XOI Oil Index 435.81 0.23 0.05% -0.58% XCI CmptrTech 853.44 25.99 3.14% -0.66% TXX CBOE Tech 475.08 10.8 2.33% -1.54% NDX NASDAQ 100 2,013.00 52 2.65% -2.00% MSH MS High Tech 963.36 18 1.90% -2.06% OEX S&P 100 635.5 3.61 0.57% -2.25% CPS S&P 500 CAP 45.75 -0.063 -0.14% -2.27% SPX S&P 500 1,268.55 6.45 0.51% -2.36% GIN GS Internet 482.78 -3.04 -0.63% -2.69% RUT Russell 2000 384.4 1.03 0.27% -3.07% BTK BioTech 184.35 -1.88 -1.01% -6.57% TOT/AVG 1.03% -2.13% No, still se a correction in the air. 1250 on the SPX is a critical support level. Funds still aren't buying, and not expected to - just the opposite. Next week ends the first quarter, so they will be letting go stocks that are both dogs and those that have run up enough to justify taking safe profit. I will be looking for patterned sells for shorting opportunities and smaller bounces on bad news selloffs. Much of the selling that may occur could wait until the first few weeks in April, but I suspect sooner due to other market forces. The funds can pressurethe market to move in other ways, and I don't think they want to go far into the 2nd quarter without investing some of those billions they have been accumulating for the last 10 weeks. My intent after I see those types of fund buys will be to restart the Position Trading Account in earnest. But I think that most can see the reason I stated in January I would suspend it until we were out of the horizontal correction. Right now the Globex GFutures are looking pretty good for tomorrow, but Friday will be the crunch day I suspect. lastshadow

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