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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 (7367)	10/28/1998 9:22:00 AM
From: SE	Respond to of 44573

Based on my extreme preliminary work on the gaps, I suspect that today's gap down...(assuming we do) will be filled. We are in what I would classify as a one day downtrend, two day relatively flat market. This would tend to indicate buy the gap, but yesterday's downtrend would tend to make that call a bit more risky. I think that if the gap is filled, it should be shorted. Risk a couple of points to the upside. On the other hand, I bet the gap is filled, but not till this afternoon. I am thinking down to low 60's and then reverse. Only reason is that everyone seems to be talking a short term pullback now...so it will probably be very short term and then rally. Don't read much into the above. I am just trying to get some thoughts together on today.