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

To: Chip McVickar who wrote (43915)	2/21/2001 9:27:39 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 44573

Sell and Hold TA, what TA? Didn't you know my motto? lol! Seriously - I think its one day at a time here. ADX in larger time frames is really stretched and typically some sideways movement at worst or some bounce and better shorting at best is to be expected. But lets just keep track of important intraday swings and until they are making higher highs and lows on at least 45 minute, well, its not over. and even then... So far the scenario I've been expecting seems to be pulling through - Nasdaq near major lows; NYSE stocks breaking down out of their consolidation pattern - whether its here and now or shortly thereafter, certainly things are lined up for a major clunk. And interestingly enough near the same time as the "Trading Expo" (never been, never will) that was held last year! If not the day, at least while it was happening. Coincidence? Probably. Never was one for the conspiracy theories or the Plunge Protection Team etc. Was joking with some traders today that my ideal scenario is when VIX and ADX are both at 70+. Cheers Michael