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Strategies & Market Trends : LindyBill's Ballroom -- Ignore unavailable to you. Want to Upgrade?

To: OZ who wrote (55)	9/30/2001 8:23:39 PM
From: LindyBill	Read Replies (1) \| Respond to of 248

Thank you, OZ. I know I won't become a T/A devotee, but I am always looking for info. I have a lot less stress on very short trades. I am sure you think I am nuts to do it this way, and if I fail, you can hold me up as an example of how not to do it! Now, on to next week! With the Fed dropping the Rate on Tuesday, we probably have a flat to slightly up market going into the announcement, IMO. I then expect a rise on the news, that I will short into. This is not in concrete, but is an opening plan. In stock trading like War, the only thing you can count on is that things will not go as you planned!

To: OZ who wrote (55)	10/1/2001 6:38:14 PM
From: LindyBill	Respond to of 248

Well, OZ, I figured flat to slightly up today, and it was slightly down. I stayed out, of course, with my trading account. Tomorrow should be an interesting day. We get the Fed Announcement at 2:15, with an expected 1/4 to 1/2 point cut. How to play it? We could get a "Buy on the Rumor, sell on the News", day, with a rally in the morning followed by a sell off when the cut is announced. Or it could stay flat until the announcement, followed by a rise. I don't expect a drop after the announcement if there has not been a morning rally. Nor do I expect a morning rise to continue. So this means I will plan to short a morning rise, and close out in the afternoon, or short the rise after the announcement, and close out Wednesday. I will either use QQQ, or one of the tech stocks I follow, as the vehicle. If I am wrong, and the rise continues, I will wait until Friday to close out, with a stop a couple of points up from my entry point.