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Strategies & Market Trends : Befriend the Trend Trading -- Ignore unavailable to you. Want to Upgrade?

To: Dr. Stoxx who wrote (4219)	6/15/1999 11:47:00 AM
From: Dr. Stoxx	Respond to of 39683

TWO NEW SHORTS: Don't be fooled by today's rally. There is still a lot of genuine weakness out there...and with the CPI report on Wednesday, and Uncle Alan's announcment on Thursday, we are headed for more volatility if not genuine bearishness. Lots of foolish investors are pouring money into the beaten down internet sector today...but we will take full advantage of their shortsightedness by adding to our short positions once the selling begins again. Watch for selling into strength either late today, or toward the end of the week. Right now the market direction is neutral, with no real clear indication of whether we are in an uptrend or downtrend. But we have a very strong sense of where it will be going once it makes up its mind! Here are two great looking BTTT shorts: XRX: a market leader that will likely lead the market down during the summer selloff. It is resting just under the 40MA which appears to be holding as stong resistance. If it closes above, then the short is off. But if price weakens to anything below 58, then jump on this one. Target is anything near the 200MA: timely.com INTU: I got in this one this morning at 81. Sold short on strength (against BTTT rules) because a very strong sell signal is already in place. I am looking for a target of 72-73, i.e. the 200MA: timely.com Happy trading, TC.