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

To: Stoctrash who wrote (6798)	10/20/1998 6:06:00 AM
From: GROUND ZERO™	Respond to of 44573

"It ain't over 'til it's over." - - - (Somebody must have said that) GZ

To: Stoctrash who wrote (6798)	10/20/1998 8:48:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

S'Funny. All my stuff is long. All McMillan's stuff is long; his A/D indicator, the way he reads P/C Ratios, his VIX read. So, I guess I shall short the morning rally and hope the sleeping pills I put in AG's Spritzer last night took effect.

To: Stoctrash who wrote (6798)	10/20/1998 9:03:00 AM
From: donald sew	Respond to of 44573

Fred, >>>>>>>>>>I'm still looking for the top of this here range...my short term stuff still in the sell window, but no turn south yet. NDX is now there too.<<<<<<<<<<<< I agree. The question how much will it drop? Yesterday, I called a CLASS 1 SELL, but also indicated that it is non-tradeable, except for day traders, and when the signal went off the DOW did turn down about 50 points. If yesterdays highs holds then that intraday sell signal, yesterday, is still valid. Right now EUROPE is up strong and the FUTURES are up 8.5, which implies that yesterdays highs may not hold. But that also does not mean that we are not close to the TOP. If yesterdays highs are pierced to the upside, still feel that the top should occur near 8550-8600. The reason I called that SELL signal non-tradeable is that I noticed a pattern in my technicals that the dip would be very small then the retest. Keep in mind that the DOW did pull back 50+ intraday and near the close - that may be all of that dip. What happened in Europe yesterday and today is a better example. Yesterday most of Europe was down or flat, and today they are up strong, but up strong in light volume. I believe the LIGHT VOLUME is the key now. So that little dip and then the bounce the next day that just took place in EUROPE was what I was expecting. That process of bouncing on light volume is a technical sign that we are topping out. So lets what type of bounce we get today and the volume. Frankly, I was expecting that the 50 point pullback that started yesterday would continue at the open today. I am still sticking to my original position that the TOP/PULLBACK to start WED/THUR/FRI. Seeya