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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (6761)	1/19/1999 9:27:00 PM
From: tom pope	Read Replies (1) \| Respond to of 43080

The ND futures are up 28 points in Globex? Did somebody decide the world wasn't coming to an end? Clinton has been elected President-for-Life? Hillary has resigned and Bill will succeed her? Whatever, I guess. Since I'm long I don't care what makes it go up.

To: AlienTech who wrote (6761)	1/19/1999 9:33:00 PM
From: LastShadow	Read Replies (1) \| Respond to of 43080

Watch List: SYMBOL CLOSE CHANGE CHANGE % XCIT 110 42.5 62.96% PSIX 34.25 5.687 19.91% GADZ 8.75 1.312 17.64% INTU 98.313 13.125 15.41% RNWK 63.25 8.25 15.00% IMON 6.563 0.719 12.30% ORCL 51.688 4.563 9.68% SYBS 8.844 0.563 6.80% FRTE 8.563 0.5 6.20% GM 88 4.687 5.63% SEG 44 1.875 4.45% VVUS 3.031 0.125 4.30% QCOM 66.5 2.625 4.11% ASND 89.438 3.25 3.77% CYMI 21.5 0.625 2.99% MXTR 19.313 0.375 1.98% NOVL 20.438 0.375 1.87% RATL 31.5 0.437 1.41% PSTA 2.313 0.032 1.40% CIEN 19 0.062 0.33% INFS 11.125 -0.125 -1.11% RDRT 19.125 -0.375 -1.92% NAVR 17.563 -0.375 -2.09% GBFE 1.5 -0.219 -12.74% I wasa little surprised that GBFE showed up on the screens, given that it was down 12.7%. The screens are composed of a relative strength index, TRIX, Rate of Change, Bull Power, Parabolic SAR, Stochastic Oscillator, MACD and Linear Regression Forecast metric. It reduced the 201 equities I follow usually to about 50 or so. In strong up markets I may get as many as 80. Tonight I got only the 24 tickers listed above. That was interesting as the Trading Strategy I employ to filter longer lists further listed long positions for 62 stocks and short positions for 96. 73 stocks closed down, 8 closed equal to yesterday, and 120 closed up. Of the 120 closing up, the average gain over Friday's close was only about 5.6%, with 13 stocks closing above 10% gain. About 97 of the 120 stocks were up less than 6%. All of this means that there was a broad improvement in the markets today. The Linear Regression Forecast line since the 10/8 tanking is still parallel with the tendline connected between the lows of 10/14/98 and 1/15/99. A low tomorrow for the SPX below 1223 to 1224 would break that to the downside. So the market actually looks okay for the short term (this week). Today's high on the SPX still maintained the right shoulder pattern of a Head and Shoulders though. Come to think of it, if it does make a high soon, everyone will probably say its forming a double top... lastshadow