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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 (11798)	1/5/1999 2:07:00 PM
From: SE	Respond to of 44573

Yes, but I fear yet another whip. Last level I saw this kind of whipping was the 1090 to 1130 level and it was a doozy. I wasn't even playing then, but working on the profit loss tables was enough to make me fear such a whipping. I hate that level now and I think I will hate this level as well.

To: Jerry Olson who wrote (11798)	1/5/1999 2:20:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

I have a positional long, plus perhaps a long into the Close at this point as I just reversed a day trade.

To: Jerry Olson who wrote (11798)	1/5/1999 4:51:00 PM
From: Chip McVickar	Respond to of 44573

Hello OJ >>isn't everybody on a buy???<< >>i mean a positional long.....not just a day trade???<< Yes OJ....I hold 3 Longs [on paper] SPX 1--12/14 at 1136 2--12/23 at 1196 3-- 1/5 at 1235 Note: I also actively day trade using the forks. If todays spx market had not recovered from the fall to 1219spx I would have been required to sell the first two longs and would not be holding the one taken out this morning. Take a look at this chart: iqc.com The fork begins: Low before 12/8 --- spread from high after 12/8 to low at 12/14 Yesterday 1/4 - the market broke through the middle tine...it needed to recover in order to save the trades...when it did I bought another at 1235. Notice the same thing happened on 12/23 The market broke through the middle tine of this positional fork This fork still contains the market...as well as GZ's fork off October Low of 925spx Anyone interested in Pitchforks should print this chart...you should be able too Bisect the spread and draw the tines. To me...It's just remarkable. I Wish to God these positions weren't [on paper] But I'm working on changing that slowly. Chip