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

To: Patrick Slevin who wrote (25472)	6/18/1999 1:59:00 AM
From: John Meade	Read Replies (3) \| Respond to of 44573

Leo Hood is still short a mini from the 970 area. He added another at 1170. I'd have to call a friend to find out if he has taken on another yet. He is the ultimate Perma Bear. He has a simple breakdown strategy where he sells 1 S&P contract short any time we are 14 points off a new high. Adding another 1 every 7 points down. If the following days continue to breakdown he adds another contract at 7 points off the 2nd and 3rd days high adding another contract every 7 points. I've seen him take on 4-5 using this strategy many times. (Oh yea, on his first contracts he runs 3/4 point stops then a full 7 on all of the rest.) He is up at least $50K for this year, probably closer to $100K. Sounds like a lot less risk and a lot more profit the just buying and turning a mini. Remember though, I am biased to the darkside. John