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

To: John Pitera who wrote (36524)	10/13/1999 8:06:00 PM
From: GROUND ZERO™	Read Replies (3) \| Respond to of 44573

In my real account, I'm painfully methodical... I've been flat all this time and I thought we might even have a rally today.... for the contest, I'm being very aggressive and just having fun..... but, I believe something happened in these markets today that signals a fundamental change of climate for these markets...... when a market sells off, it typically goes from over bought to over sold.... here, I think we have a very different phenomenon.... that is, as we sold off, we went from being over sold in a bull market to over bought in a bear market.... I was short last Friday and I expected to see a rally resume soon enough, but I only went short today in my real account because we've gone from over sold in a bull trend to over bought in a bear trend..... I think we could see another 1000 DOW point lower within the next three weeks..... Long term rates could move to 7.25% within the next six months and that will deal a fatal blow to this bull market..... Buying bond futures is fine because they're at a discount to cash, so even if rates remained unchanged, the bond futures do tick higher..... GZ