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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (1639)	12/2/1999 3:58:00 AM
From: Ms. X	Read Replies (1) \| Respond to of 7434

Patrick darlin'... We be havin' some things go down on the PnF front. Our short term indicators are now all negative (with the exception of the 30 week) and the Optional BP and the NYSE BP are weakening. Neither of the last have reversed down and the NYSE BP is far from reversing down but we are watching the OPTI. The DJBB (Dow Jone 20 Bond Average) just gave another sell signal which is a no no. All this together doesn't put us into a panic but we definitely control our enthusiasm and don't chase any stocks etc. We want pullbacks and to have stops in mind. There are times that the short term indicators reverse down but the longer term do not. This usually amounts to a pullback in the market. If the longer term reverse than we look for a more intense pullback or bearishness of some level. It is also important to note that if the long term indicators reverse here they are still in a moderate territory and their reversal down wouldn't be as serious as a reversal down from above 60%. See the book on alert levels on the NYSE BP. We are currently around 48%. For the SPX this may provide some trading to the downside. I'd certainly be watching the long positions. Of course Jorj would be a great one to consult with :-)