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

To: Tom Trader who wrote (6973)	10/21/1998 4:03:00 PM
From: Nemer	Read Replies (1) \| Respond to of 44573

TT ---- ======> But definitely not a strategy for everyone --- so I don't want to entice anyone to try something that may not be suitable for them. Thanks for the warning because I feel the same way. I've done strangles, spreads, and butterflies way back in the past, and have done a few in the last months, but it definitely is not for everyone........ just as trading the futures isn't either. Appears that my weak forecast of an hour ago proved to be a weak move, too ......... ggggg Don't know if I'll be around tamarrah or not --- I have 2000 sq ft of tile to pick up in Dallas and I will either go then or Saturday ........ just depends on what the simulcast race card looks like this evening ......... GGGGGGG Nemer

To: Tom Trader who wrote (6973)	10/21/1998 10:11:00 PM
From: SE	Read Replies (2) \| Respond to of 44573

It is interesting that since the G-Day the SPOO has not made much progress. The chart looks like initially there was some shorting from people who thought the move was probably over and selling from longs and then over the next couple of days probably some short covering from those that just went short and some short covering from those had held and then realized it was not going to come right back down. After that it seems to be indecision. Not many too eager to buy and not many too eager to sell. Many indicators are way overbought right now and many cycles appear to be indicating a top is near. I have heard the 22nd, plus or minus two days and the 26th many times as big dates with another turn on the 28th. Sew is planning on buying puts tomorrow based on his stuff (if I recall correctly...please correct me if I am wrong). Bullish talk seems to prevail and the bears seem very cautious. Not calling for a BK type of downturn, but I would not be at all surprised if we are down for a few days....remember FredE's post on the SPX dropping 1% a day for several days as well..... I might try a position trade on the mini tomorrow if I can get the right price. Right price I would guess at anything 80 or above. Of course Globex could change my ideas all together, but that is my current thinking.... I would hope I can get some signals from my method as well, however, it is much more short term than the above thoughts. The bullish talk has been bothering me for the last few days. The trouble with the above thinking is that the sideways action we have had the last few days may have been the "correction" to the up-move. Maybe we simply consolidated for a few and are ready to resume the up-trend. Guess tomorrow we find out. Tom, since you are the position trader of the bunch I would appreciate any thoughts you might have. I have a feeling that even if I am correct and put the trade on, I probably would not leave it overnight. That of course assumes the trade has made money....I somehow just don't think I could stomach the Globex risk quite yet.... -Scott