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

To: peter n matzke who wrote (39616)	10/29/1999 12:40:00 PM
From: Tom Trader	Respond to of 44573

No Peter I am flat -- exited yesterday when it hit my target

To: peter n matzke who wrote (39616)	10/29/1999 1:59:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

Peter, I'll wait until Monday before I take a short for real. I have done this a couple of times so far -- using the target as a point to pick a top or a bottom; it worked both times one for a few points and the other time it caught a good move. Requires a lot of nerve going against the trend -- and when the momentum to the upside or downside is really strong one needs to let it abate a bit. FWIW, watch the BKX, it signalled the move down by giving a sell signal well before the other indices did and then it gave a buy signal a couple of days before the spoo took off. I think yesterday's huge move in the BKX represented a top of sorts -- I think it was up about 6+% -- and that is a huge move for any index. The SOX is doing the same thing today. OTOH, may be I am all wet and perhaps this thing is about to take off to the stars -- an up-crash of sorts