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

To: Patrick Slevin who wrote (2842)	8/31/1998 1:01:00 PM
From: SE	Read Replies (1) \| Respond to of 44573

Might want to give it a tad more room than 1105 as the panic in the mini should produce a real nice bounce I would suspect.

To: Patrick Slevin who wrote (2842)	8/31/1998 1:02:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

I think that it is more than margin calls at this point I suspect that the closing of the gap this am may have been, in part, the impact of selling caused by margin calls but the selling pressure thereafter was caused by new selling. There must have been a lot of stops around the 1000 level. I can't believe that there would be a lot of people actually holding long positions over the weekend--but I guess it takes all types. I'll look to short at a level where my stop limits the damage if I am wrong--otherwise, I'll just have to sit it out.