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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 (8412)	11/12/1998 2:31:00 PM
From: Jerry Olson	Read Replies (2) \| Respond to of 44573

Hi TT & All just got home from CT...can anyone tell me are we on a sell??? or still on a buy???? i dumped my AOL's TT the Nov 100's for a fabulous 33 1/2 point option trade!!!! i'm holding DELL shares and Nov 70's for a pop...THRU EARNINGS!!! the semis are flying guy!!! WOW!!!!

To: Tom Trader who wrote (8412)	11/12/1998 2:54:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

Tell you what, I hedged my guess by putting in a sell stop at 22 even. Have not received the fill as yet. If it breaks 20 I think it will be fine.

To: Tom Trader who wrote (8412)	11/12/1998 3:11:00 PM
From: donald sew	Read Replies (2) \| Respond to of 44573

Tom, What is your system saying now? >>>>> INDEX UPDATE ------------------- Per my short-term technicals here are the readings for various indexes right now: DOW - 49 (MIDRANGE) SPX - 45 (MIDRANGE) OEX - 50 MIDRANGE NAZ - 75 NEAR OVERBOUGHT RUT - 25 NEAR OVERSOLD BKX - 9 OVERSOLD XAL - 6 OVERSOLD There are obvious divergences amongst the various indexes at this point, not giving any firm direction. Originally I felt that this downswing would last thru this past TUE/WED and then an upswing to start which should retest the recent highs by the FOMC meeting on Tue. Right now the VIX is at 27 and it appears that the next support(BUY SIGNAL area) is around 32-35. This would be in line with my short-term technicals of a midrange for the overall market. Since we are basicly in the mid-range with divergences, the market could continue down/flat until next MON/TUE. If we do continue down prior to next TUE, the downside will be limited with strong support at in the 8700-8800 range. My strategy is that if the DOW is in the 8700-8800 by the time of the FOMC meeting, I will just go long if the rates are cut, giving my broker to pull the trigger on that announcement. I would do that with the expectations that the market will at least retest the recent highs around 9000 <<<<<<<<<<<<< Seeya