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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (24599)	6/27/2000 3:03:00 PM
From: donald sew	Respond to of 42787

If the NDX closes negative and better if it closes near its intraday lows, I will initiate a UOPIX(long-NDX) position. I dont have a CLASS BUY signal yet, just that we still have to USPIX position(short-NDX) and I want to balance them out before the FOMC announcement tomorrow. Also, it is helping since the NDX is in the oversold region. I may also go initiate a URPIX(short-SPX) since we already have a ULPIX(long-SPX) position creating a fairly even hedge since the SPX is not far from where we got the ULPIX, and that my short-term technicals are in the midrange for the SPX.

To: Gersh Avery who wrote (24599)	6/27/2000 3:05:00 PM
From: Robert Graham	Respond to of 42787

Yes, but the market is a bit different right now. It seems that the more conservative stocks have been leading the market like those represented in the DJIA and the SPX. IMO this is not a market that is confident in a rally of its tech leadership at this point in time. As I post here, another test of top is attempting to resolve downward. A look at the 15-min chart has the bottom that is resolvng upward still intact. So we shall see. Bob Graham

To: Gersh Avery who wrote (24599)	6/27/2000 3:22:00 PM
From: Robert Graham	Read Replies (2) \| Respond to of 42787

Looks like continued congestion style trading in the 3-min time frame. Also looks like price is readying for a test of top at 1478 on the SPOO. Right now there is an established congestion range between 1472.75 and 1478.00 on the SPOO. Update 15:26 PM EST Price has moved past its test of top and now looks to be continuing up. It is now at an apex of a larger triangle. The Stoch in the 3-min time frame is topping out along with the one on the 1-min chart. I am anticipating a small pullback that may provide entry for a trade to the upside. But this is right nearby a test of top. So parameters need to be put in place here. A short stop order at 1477 and a long at 1478.75. I am keenly aware of another bear flag on the 1-min that coincides with this test of top on the 3-min chart. Update 15:33 PM EST I am in a short trade now and moving long stop down to 1478.50. I want to be clear that I am not trading for real today as mentioned in an earlier post. So this is a paper trade. Bob Graham