Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: donald sew who wrote (7554)	10/30/1998 10:20:00 AM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

Don, I don't disgree with you that we may level off by Monday or Tuesday and that we could sell-off somewhat--after the elections has a nice ring to it. I sold short some OEX puts yesterday after I got the buy signal and established bullish spreads on the calls. So rightly or wrongly, I am now firmly in the bullish camp -- though I am not wedded to that point of view by any means and when I get a sell signal, I'll reverse course again. The fact that the futures broke through resistance at the 90-92 level yesterday is what causes me to feel that there is additional upside. Also keep in mind that though the DOW did not make new high in relation to your stair-step approach, the SPX, OEX and some other indices have done so either today or yesterday. So it is possible that the DOW will lag for a bit and then play catch-up.

To: donald sew who wrote (7554)	10/30/1998 10:21:00 AM
From: F Robert Simms	Respond to of 44573

BioComp's NN model is calling for a short at the end of the day. This is in line with your prediction of a top Monday. I think today's top might be the high for the next few days. Best Wishes, Bob

To: donald sew who wrote (7554)	10/30/1998 10:46:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

Chance of an afternoon rally per the Window Dressing at quarter's end, by the way. <e>

To: donald sew who wrote (7554)	10/30/1998 3:24:00 PM
From: Maxer	Read Replies (1) \| Respond to of 44573

Don-- Not sure about waiting for the dip. Seems the market is in a pretty positive mood and any dip, when it comes, is likely to be shallow. I decided to go long last week and bought more this week. If I had the guts, I would have gone long 2 weeks ago when the fed cut rates, but I was still too worried. I see now that detecting the bottom is a real skill, and a very valuable one. This view is based on what I've been reading and various tech analysis, including yours. Best of luck to you.