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: SE who wrote (8167)	11/9/1998 4:15:00 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 44573

<Wave 3 down> I wouldn't know a Wave 3 from a surfboard. I wasn't a fan of wave theory in Physics so I am not going to get into it at this stage of the game. I am going to presume my position trade is sound and forget about all this position stuff during the trading day....clear the decks after a fashion I suppose. If it does not work then I will hold off until after I get a refresher course in Dallas later this month. Whenever I get stale one of those things always gets me back on track. Take now for example; I thought it would be prudent to cover the long at 37 but decided not to chance it and covered at 3:59 @ 34.30; whammo, it runs to 36.50 a minute later. I think I've become too comfortable. One really needs to have an "edge", a desire to win, else trading gets too sloppy. Perhaps I should get into a street fight or something just to hone up. I tried to post this at 4:05; whatever the problem is with @Home, you can see it's too much to deal with.

To: SE who wrote (8167)	11/9/1998 5:28:00 PM
From: GROUND ZERO™	Read Replies (2) \| Respond to of 44573

Scott, I haven't yet calculated today's numbers, but as of Friday I have about plus 8,000 net advances in the past 25 days, getting a bit overbought, but clearly no sell signal. If we don't resume the rally by tomorrow or Wednesday, well, the numbers will likely begin to shrink and trigger a sell. I just don't expect that to happen yet. I think we'll trade a bit lower then keep on going. Even if this is just a bull trap, a nine year bull market doesn't give up so easily without one final death rally to take prices well beyond the old highs before the bull finally falls over on its side. BWDIK GZ