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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (297)	5/12/1998 10:32:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

He makes excellent points. For my own part, I have to dump SI for today, I cannot handle the distraction. It took perhaps 30 minutes to read and respond to a P-Mail. Your message, then the message you referred me to, then to this reply took me 15 minutes. It is now 9:20 CT. By the time it gets posted it could be another 20 minutes, for all I know. This is not the sort of thing you want to be spending time on while trying to daytrade. On top of my problem's with SI, some important e-mail is not coming through. So, whether it's the Full Moon or whatever, I'm having a boatload of technical problems. The only way to handle it is to log-off for a few hours until I get my head back together. I must have missed 3 short-term trades futzing with these problems. No way to run an airline.

To: Tom Trader who wrote (297)	5/12/1998 11:06:00 AM
From: j g cordes	Read Replies (2) \| Respond to of 44573

Where's hombre via-OJ? I just caught Dorsey's oil prediction of crude going to 20-25 by year's end. That's a major problem for inflation if its remotely true... and an even bigger problem for the Asian countries like Japan dependant on imported oil.

To: Tom Trader who wrote (297)	5/12/1998 11:08:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

For whatever reason, I powered down, came back up, and SI is running at normal speed. I'm still ticked off I missed some early trading opportunities because of the distraction. So for a target intraday downside, I would think if the market can get some motion to the south I would look for 1104 intraday. It's not being co-operative, of course, just yet. I can't tell you how annoyed I am, between the error at the trading firm, the lost e-mail, and the problem with SI I'm left here still short 6 and all the action so far was in the first 45 minutes....here I am with nothing to show for it. Upside potential, in my view, is limited unless we get through 1117.20, a 5 point move for the SP8M from yesterday's close and possibly an "all is well" flag for the dipsticks. Personally, I probably would go flat at that point (if it occurs) and trail a sell stop. My concern is of course, motivated by an existing portfolio. However, my honest opinion is that even for a daytrader such as myself....if the bonds and the Bank index are not supporting the footing in the market my play has to be defensive....which for me becomes a position play. So, until something changes, I'm afraid I will not be joining you trying to scalp the long side in the near-term.