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Strategies & Market Trends : January Effect 2003 -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (333)	4/14/2003 12:29:08 PM
From: Londo	Respond to of 666

Also, I think traders may be inclined to go long into this weekend. Don't know why, but we do need to see S&P 900 again before we'll head down again. I just think the shorts need to be flushed again.

To: RockyBalboa who wrote (333)	4/15/2003 1:45:33 AM
From: Londo	Read Replies (1) \| Respond to of 666

No positions today either. I'm getting a better feel for the market though - volatility is dropping, but bullishness is still not at a 'maximial' point. I think S&P 900 is in the cards. However, things are still toppish, we are in the midst of a bear market rally, and it will deflate. Just a matter of getting the timing right. Implied volatility at 22% and I'll start preparing that short entry (long puts!) when the bullish percentage is higher. The Euro, however, I think is still an appropriate long. I'll put in a "ghost bid" at 1.0550 until I can think of a better entry - it's looked bottomed out about a penny and a half less than what it's trading at right now. Could be a triple bottom, or at worst the bottom of the range. On the bear side, it could be a descending triangle!