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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (24826)	6/7/1999 8:55:00 AM
From: Nanlin Chiang	Read Replies (2) \| Respond to of 44573

I got two sell signals today on the S&P's (A CVR III and TRADEHARD.com Momentum Indicator). It was also a large range day, which leads me to believe a short sale is in sight today. Looking for a short at 1314 after the cash markets open. If that takes it out I am looking for a test at the 1298 range. Manuel Ochoa Hedgefund Manager of the Palisades Offshore fund has a pretty good commentary that I follow. Here is what he had to say on Friday: S&P 500 futures The June S&Ps (SPM9) enjoyed a relief rally today. Bargain hunters stepped in when they saw that bonds were not going to sell-off anymore. We believe we are still in a range-bound environment, and we established a short position at the 1328 level with a stop in around 1350. Stay tuned for the profit target on Monday. Volatility suggests we are in for more range-bound trading, and the fact that bonds did not rally indicates a good probability we will see lower prices in the next couple of sessions.