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To: ViperChick Secret Agent 006.9 who wrote (39934)	4/16/1998 10:57:00 AM
From: The Perfect Hedge	Read Replies (3) \| Respond to of 58727

somebody tell me they had Cendant puts please!!! Looking for an entry point for puts.....Hoping for a bounce...GD

To: ViperChick Secret Agent 006.9 who wrote (39934)	4/16/1998 11:25:00 AM
From: Tom Trader	Read Replies (1) \| Respond to of 58727

>>you mentioned not the same level of momentum...so I take it there is still some momentum there....<< Yep, there is still a fair amount of momemtum -- which suggests that any pull-back will be limited. But for the first time since the '98 rally began, the freight train seems to be laboring a bit. >>are we talking a short term momentum...or the overall momentum.... Momentum on daily charts >>because yes we are still in a bull market yes we need a correction in that bull market<< We are still in a strong uptrend and therefore the likelihood of short positions working out in any significant way, is not that good. But as we all know it is difficult to know when that reversal point will occur and so I just take every signal, that the system generates -- just in case the latest signal represents the reversal. My ability to make subjective judgements of what the market is likely to do is rather questionable--like the last buy signal was one that I thought was likely to be a real winner, given that so many indices also gave strong buy signals--and look what happened. On a subjective level, this latest sell signal is one that I don't have a whole lot of faith in -- there have been other signals that did not strike me as being good ones and they turned out to be big winners. So we'll just have to wait and see. >>but as your system is predicated on wanting a 40 point move.... it makes me ask about the momentum factor<< You are mixing apples and oranges here--the 40 point target -- actually 45 point target now--is based on simulations and experience. This has shown that when that profit target is reached, the likelihood of additional profits is limited--so one should take ones money and run.