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

To: SE who wrote (6593)	10/16/1998 1:28:00 PM
From: GROUND ZERO™	Read Replies (3) \| Respond to of 44573

Scott, To close out my long positions, I would need to see a negative chart pattern. I don't see it. If I saw a negative pattern, I'd close out my longs and not go short. I don't mean a near term trading cycle top, I mean a top. To go short, I would need an out right sell signal. I just got a buy signal and these signals, when valid and this one appears to be valid, can last for weeks or months. These are longer term signals. Of course there'll be plenty of days for backing up and filling and to play both sides of the market, but to me the underlying direction is higher. Actually, we may have reached an areas of resistance between here and 8600 basis the DOW, then I honestly suspect we'll see a rally to test the old highs, not lows. If you want me to tell you what I see on the charts that gives me that impression, let me know. I suspect the sell signal may come at much higher levels. BTW, if the markets crash this afternoon, I didn't write this post. GZ