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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 (7980)	11/6/1998 4:45:00 PM
From: GROUND ZERO™	Respond to of 44573

Tom, I share your sentiment precisely on day trading, but it gets me frustrated too quickly. For sure, when I heard that Greenspan was going to speak, I began to wonder, but I've finally conditioned myself to have very high confidence in my timing models so that I really end up just ignoring those daily events. I also thought I would have to take some heat in the bonds for a few days considering the earlier call, but then too, I ignore the daily static and follow my own work. That has paid off very well over the past number of years. I think the serious money is in position trading, and there is a certain kind of rush that goes with it, by holding a position no matter what as long as the indicators are keeping you in it. It is very mechanical, and I like it that way because it removes the error of judgement. 1250 is based on the inverted head and shoulder pattern I see in the December contract, however convoluted it may be. It's the measured move. I hesitate to say, but I honestly sense that there is about to be some serious panic buying in the equity markets, and I see nothing in the charts to contraindicate that. My Best Regards. GZ