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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 (8687)	11/17/1998 9:07:00 AM
From: SE	Read Replies (1) \| Respond to of 44573

Tom, If I may offer my prelim read on the forks, and this is still a very basic read so GZ can correct me where I am missing..... I have three center lines crossing at 1123 or so, so I would suspect the low 20's is the first area of significant support. These are from the forks I posted last night. I have four on my chart. The lower tines of these three forks stand at (right now, two are sloping down, one up) 1105, 1110 and the lowest and largest fork is at 1010. Let's see what GZ has to say regarding the forks... -Scott

To: Tom Trader who wrote (8687)	11/17/1998 9:49:00 AM
From: SE	Read Replies (1) \| Respond to of 44573

Tom, Real quick then I gotta run, I have one other short term fork that I found on a 5 minute chart. The high to the low on 11-16, mid point line drawn from the high on 11/12 gives us a lower tine that starts today at 1130.50 and ends today at 1133.00. If nothing else that should contain any decline prior to the AG's speak I would think. -Scott

To: Tom Trader who wrote (8687)	11/17/1998 7:26:00 PM
From: GROUND ZERO™	Respond to of 44573

Tom, My wife and I just got back from shopping all day, boy can she shop! Sorry for the late reply, but apparently it's not too late. The first area of good buying would come in around the general area of last week's lows, either cash or contract. Since prices came very close to that line last week then rallied off it, that price action validated that line as reliable. If prices came back to test that line, I would feel comfortable about buying there. That line is rising slightly, so the prices might be just at or above last week's low. *This is the fork that Fred posted on this thread last week.* I know what you mean about the bonds, they seem more iffy than usual, I guess they just don't want to make it easy for anyone. Go figure... GZ