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


To: Kevin who wrote (1629)7/23/1998 3:39:00 PM
From: SE  Read Replies (1) | Respond to of 44573
 
Actually at the time of the post the SPOOS was in the high 50's. I think Patrick was saying he expects a solid sell-off into the close as the longs dump their positions to get flat.

It appears that is exactly what happened. Now the shorts will cover and it will bounce into the close probably. That is my guess and I am not playing it. Pat's was better.....




To: Kevin who wrote (1629)7/23/1998 3:49:00 PM
From: Patrick Slevin  Read Replies (1) | Respond to of 44573
 
Matters not. It appears that mescalito I took before my InOrganic Chem Final back in 1970 is finally kicking in.

By the time you posted I was getting out. Worked like a charm, fugg-gget-abut-it.



To: Kevin who wrote (1629)7/23/1998 3:55:00 PM
From: Patrick Slevin  Respond to of 44573
 
Sorry. I did not answer your question exactly.

My reasoning was that the psychology of the market would leave long-side players concerned about tomorrow's open and therefore they would go flat.

Appeared to play out well. Overnight on the other hand, may see some strength on the Open per Nemer's Box.

But that's just a guess. The DJIA, after all, has taken a pretty sound beating I would say. Even Jerry Favors might be quaking in his booties.