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

To: Patrick Slevin who wrote (12077)	1/8/1999 8:50:00 AM
From: Chip McVickar	Read Replies (2) \| Respond to of 44573

Pat, When you reffer to the pro's wanting to "closing the gap" Do you mean the difference between a days close and the next days open ? This chart shows a gap at the open on 1/7 and another just off the opening move down to 1263. Why would the pro's want to "close a gap" ? iqc.com . This chart also shows we could see atleast 1278-80 SPX on an upper tine. I will be long at the open [paper] Thanks Chip

To: Patrick Slevin who wrote (12077)	1/8/1999 9:17:00 AM
From: Tom Trader	Read Replies (3) \| Respond to of 44573

Morning all-- I could not post yesterday because of a combination of factors not the least of which was the slowness of SI and getting squided. After it happened a couple of times, I gave up. Anyway, the good news is I have recovered the entire hit that I took when I got stopped out -- and it was a huge hit! I bought the gap down on the open yesterday on the spoo for a day trade. I traded the bonds successfully on the short side for a day trade and when I got a continuation sell signal on the bonds yesterday, I added to my short position. So right now, I am almost back to even. Am now looking to short this gap open on the spoo -- not sure what level, I'll hit it at -- but I do feel that it has a good chance for the trade to work. May hit it at about the 1290 level or thereabouts. Am also looking to short the bonds again for a day trade. Patrick, can you tell me what your patterns are suggesting for today??