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

To: Arik T.G. who wrote (2288)	8/24/1998 9:29:00 AM
From: Tom Trader	Respond to of 44573

Arik--a buy signal is not on the cards today It is theoretically possible but very unlikely, IMO. I will be stopped out of my short position, to go flat, long before that occurs -- a purely money-management move. If I get a continuation sell signal before a buy signal is triggered and as long as I have not been stopped out--I shall take the sell signal and aggressively short the futures. That is the plan for now and will post as and when I do so. As a separate issue, though I am presently short the futures and on a sell signal, I think that the market established a bottom of sorts on Friday. Now how much upside it has at this point remains to be seen -- as you know the quality of recent rallies has not been impressive. But this is a subjective opinion based on the action Friday, the retest of lows, the extremes reached on the EPC ration and so on. My thought is to short the futures around the 1092 level for a day trade. I may look to go long the futures for a day trade at some point --need to see about where proper entry would be. Take care