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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (21022)	10/15/1999 7:23:00 AM
From: Ron McKinnon	Respond to of 53068

last night the futures tanked 10+ points in a second with the Grennie comments what to do today? accross the board we should see a down open the DOW is still in the recent trading range; between sup/res just like clockwork 10,000-11,000 10,200-10,800 10,400-10,600 200 DMA about 10,400 risk to maybe 9600 or down 7% from here and 15% from the high not an unsual drop at all need to see if support holds this time the NASD is still much higher compared to the DOW thus maybe more downside risk rough supports: 2800 2675 2600 2580 2450 200 DMA about 2550 2400 would be about 17% below the high for the S+P I'll let Master Nemer opine the PPI numbers may well impact all the above do I think a drop is coming? not a clue but keep this all in mind so what to do today if a big fall happens? could wait for a major bottom and buy like hell for a turn up or, be over cautious and stay heavy cash over the weekend and see what Monday brings if no fall takes place? just stay with whatever has been working of late stay tuned thoughts from all? disclaimer: I'm only in three short positions in my trading account in IRA am down to just 4500 KSWS and bits and pieces of some oddball stuff mainly cash #1 on my watch list is good old FNM; would love to see sub 60 again luck to all