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Strategies & Market Trends : E-Mini Pit -- Ignore unavailable to you. Want to Upgrade?

To: the-phoenix who wrote (481)	2/11/2002 10:21:39 PM
From: jefe12	Read Replies (1) \| Respond to of 11288

Phoenix, I shorted the S&P's before the close. Just noticed they dropped about 3 points from the last time I checked 20 minutes ago. Any idea why? Was there some sort of news? I saw the FBI made a statement that they are expecting a possible attack on the US on or around Feb 12, but that was over an hour ago. Certainly if that was the reason for the drop it would have happened faster. Thinking about closing here and reestablishing in the am, but before I consider that, I'd like to find out what caused the instant 3 point drop.

To: the-phoenix who wrote (481)	2/11/2002 10:46:03 PM
From: fut_trade	Read Replies (1) \| Respond to of 11288

"After two strong days up, the S&Ps came into some decent resistance at the close:" Resistance is not the same as weakness. The SP has shown strength. I expect tomorrow to be a consolidation day - the SP will probably remain in a limited range - before moving further up or turning down in a couple of days.

To: the-phoenix who wrote (481)	2/11/2002 11:13:00 PM
From: Dan Duchardt	Read Replies (1) \| Respond to of 11288

Some Fib levels for the COMPX decline: I can't put them on the chart, but for reference stockcharts.com[h,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G From the Jan 9 high at 2099 to the Jan 23 low at 1879, the .382 retrace was 1963. The bounce peaked the next day at 1960, a near touch of the .382. From that peak to Friday's low of 1772 the .382 retrace is 1844. Today closed just above that at 1847. Fair chance I would think for a third leg down from about this level. Also, the 50% retrace from the September low to the January high is 1743. I thought we were going there on Friday, but some folks were not ready and ran the thing up. The .618 retrace would be 1678, which looks well within range for a third down leg here. Dan