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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (10806)	12/21/1998 11:37:00 AM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

>>when you hit 45 points and go flat, doesn't it usually mean a small/short pull back, before the trend up continues???<< Nothing definite as far as that is concerned, OJ. The point at which to go flat --it used to be 40 and then 45 and now 50--was based on the optimal level as determined through some extensive testing. I have rarely seen the spoo go much more than 1% to 1 1/2% higher once the target is hit. As far as what happens thereafter, that also varies -- it could be the makings of a top of sorts or may be a pull-back before it heads up again. Unless the momentum on the upside becomes very strong, I will go short on the next sell signal. I just wish I had taken a position in the OEX as well -- but I let my own bias influence my decision and stayed out of the trade. Hope all this makes sense