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 (8219)	11/10/1998 9:57:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

I was just looking at the trendline on the Futures which appears to come in around the 1130 level, for whatever that's worth.

To: donald sew who wrote (8219)	11/10/1998 10:10:00 AM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

Don, I don't track the TRAN and the XAL on my system I know that the former was very weak yesterday so I suspect that a sell signal would have been triggered. I think that we are on the same wave length in terms of looking for this pull back to be an opportunity to go long from a trading stand-point--the only issue is where the likely bottom is and how low would it have to go before one assumes that the current uptrend has been decisively broken and that we have seen the highs. Momentum plays a big role in my system and the strong momentum during the recent rally argues against a top being in place for now. I could be wrong but that is how I am playing it -- for now all that I am doing is closing out short OEX calls gradually into weakness. When I get the next buy signal on my system, in addition to going long the futures, I'll look to sell short OEX puts. My question for you is: what would have to happen for you to believe that we have seen the top and that any rally from this point on will be confined to the recent highs??