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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: Kerry Phineas who wrote (4352)	7/26/1999 1:26:00 PM
From: Arik T.G.	Respond to of 5676

Hi Kerry. 33 trading days from the top is the BK itself. Better short on T+31. There is a point to watch on the downside which is the June 7th local high at SPX 1336.43. There is a clear and classic impulse from the next local low on 6/11 to the 7/19 high. IMO the market should halt its decline before overlapping on that point, and try to drag itself to a marginal new high. However, if we do trade under 1336.43 it would be very difficult for the market to make new high anytime soon. Therefore I recommend opening a ST long position around 1340 cash with stop loss 1335 and profit taking close to the recent high. ATG