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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (4312)	12/7/2004 1:50:05 PM
From: Gersh Avery	Read Replies (3) \| Respond to of 12410

Any idea what hit the market? Charts look like a news item.

To: Michael Watkins who wrote (4312)	12/7/2004 1:50:18 PM
From: Michael Watkins	Respond to of 12410

So the observation that oil was weak yet index futures were also weak proved useful here. trendvue.com Note how the move down started and continud for some time (as of time of snapping this) even as crude was selling off today. 12:38:47 Mike: SELL STOP LIMIT 1/2 size YM 10557 under the last 1M bar. 12:39:10 Mike: 5M bull flag in NQ 12:39:14 Mike: This really is now or never. 12:40:47 Mike: NQ is the strongest of the bunch but if it pulls back much more... 12:44:21 Mike: Short YM 12:44:27 Mike: 10560 initial stop. 12:44:29 Mike: b/e soon. 12:45:06 Mike: Now if oil AND stocks go down you know the TV will be all abuzz in talking that one up. 12:45:57 Mike: THIS PUSH DOWN MAY BE THE FINAL WIGGLE FOR STOCK MARKETS BEFORE ATTEMPTING A RALLY. BE CAUTIOUS in the early going. 12:47:08 Mike: Because crude is all over the map here but generally still lowe 12:47:42 Mike: CL close to new lows. If stocks can't bounce if CL hits new lows then something is very very different today. 13:38:02 Mike: possible piercing line in ES here.