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

To: GROUND ZERO™ who wrote (38454)	10/23/1999 1:58:00 PM
From: Jerry Olson	Read Replies (2) \| Respond to of 44573

Hi GZ...and Hello to you too Patrick.. i just read today's report from Tom Dorsey..re: BONDS... both the DJBB and TYX charts are saying we are going up to test 7.10% or so near term...in fact the TYX broke thru it's bearish resistance line last week..at 6.33ish... the TYX moves inverse to the DJBB.. the DJBB now in a column of O's heading lower...it would have to reverse up to 99.8 this would set up the reversal of trend, to positive...this would be a low pole warning...it's a 50% retracement plus 1 box higher from the column of O's... all in all a bearish senario for bonds...and if the bonds are bearish, stocks will be as well... i looked at the DJIA chart...ever single rally up to the downtrend line has been replused...i wish i just listened to the chart...good grief....we should head back down to test the lows, 9900 would break the double bottom & give a sell signal, there's some support at 9700, then 9300 and major support at 9100 from way back if we get there... if we happen to move higher from here 10,800 would be a new buy signal, and break this downtrend line... all in all, a bleak picture going forward...course if your short??? it's not so bad, now is it...??? the index that has not suffered much is the NAZ...it probably will...on the 20 box chart, 2780-is a 3 box reversal down, 2620 breaks a double bottom and gives a sell signal, and that would be a bearish catapult pattern, that could lead to a break of the bullish support line at 2560...and another sell signal to boot.. i am currently in puts, have doubled down, and will do it again if any of the indexs actually prints these 3 box reversals...i'll wait for that action, to be sure the wiggles and jiggles are for real...and not just intraday swings... i bought some calls on KLIC on Fri,,i'll sell those on MON, and reenter later...i own no longs or calls other than some OTM OEXs... gee a slam would be cool....i'm trying to learn how to use Hypertext DX screen capture, so i can post charts... whew!!! it's tough when your brain cells are full of sludge...

To: GROUND ZERO™ who wrote (38454)	10/23/1999 2:16:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

There seems to be a similar pattern setting up in DecisionPoint's chart on the SPX. decisionpoint.com <fib retracement from the lows... 1309.08 is the number.> Yeah, that makes sense. It usually overshoots the fib number just a bit. I see it a lot when day trading. When daytrading, it seems the traders know that the logical place to place Stops is around the fib numbers so the market usually just passes the numbers on the retracements, blowing out the majority for the resumption of the trend. Sometimes, though, the effect of taking out the stops is magnified to the degree that the trend changes. So I'm cautiously bearish. I would like to see it spiral down quickly before it gets much higher. From DecisionPoint's chart, it looks as if the upper downsloping trendline is around 1320, which is a bit higher than I thought it would go.....I thought the SP9Z would see it's high around 1320. If the SPX motors to the trendline around 1320, the spoo will be around 1330. I think this would be lending too much psychological power to the Long side. The resulting effect would be a drive to change the dynamics of the trend. We are, after all, traders and so we don't really care which way it ends up.....but it would be better, I think, to have the failure. The resultant selloff would be powerful, I believe (as a result of the psychological effect of the failure to change the trend), and shake a lot of apprehension out. By that I mean, once the market takes a solid blow it can base and provide a more solid foundation for future growth.