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

To: doug-e-mini who wrote (40183)	1/17/2000 8:52:00 AM
From: SE	Read Replies (1) \| Respond to of 44573

Do you think the lows are going to hold? Well, shorter term (this week maybe?), my best guess is yes. However, we have spent so many times returning to the "lows" that if it does break through I think it will be katy bar the door (is that right?...well you know what I mean). You almost have to set a stop below the recent lows of 89'09, perhaps below 89'00 to be safe. I was considering going long on FRI and then the market closed early so I missed my chance. I was thinking about a long in the 89'18 area had it revisited that area FRI afternoon. Perhaps tomorrow gives us one more stab at the lows and then we move higher. Anything in the 89'08 to 89'12 area should be bought I think with a '16 tick stop. If you wish to be more agressive, once they get into the '12 area, buy either '08 or buy two ticks off the low with an '08 tick stop. I still prefer the '16 tick stop down here as things could get a bit sloppy since it is about the third or fourth time we have seen these levels. Even though I am thinking long here, that does not mean one should necessarily hold it and for now, the sell the bounce theory still seems to be the most applicable on the overall basis....and I think that early next week we will be revisting these levels, yet again. Scott