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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 (7581)	10/30/1998 2:58:00 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 44573

Tom, On the bonds, this morning we had the first economic hint that we're not going to have a recession and this news put a scare into the bond market. The longer that isolate high remains in place, the more likely it will represent the buying climax and the top of that market. I think bond holders will sell out their bond positions to get back into equities if their bond profits continue to erode and equities continue higher. I've been playing the short side now for several weeks beginning from 132-00 and it now appears that the second rally was weaker. I think the burden of proof now rests with the longs. The longs have more to worry about than the shorts at this point, I believe. Yes, I'll stay long the SP's until I get a sell signal. The signal is a function of the internals, this is why I mentioned that the internals look good. You're right, price means less to me than the internals of the market. I have no profit target, I'd have no way of calculating that except for using fib numbers, and I can't rely on that. Also, if I aimed at a profit target, I would be discounting the signal to reverse, not a good idea. No, I don't use stops, they're not part of my system. I'll just go where ever the move takes me. The last trade gave me about 95.00 SP points, and I had two contracts. The profits are sizable, I have to be willing to take the heat. Thank goodness, my indicators are sure footed enough to turn me around before a real crash or explosive rally ever happens, so far. I also use Andrew's pitchfork to frame price movements to give me some idea about market strength and weakness while I'm in the middle of a trade. GZ