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

To: GROUND ZERO™ who wrote (14954)	2/6/1999 4:58:00 PM
From: SE	Respond to of 44573

we bought everything in sight and chewed our nails down to the nub..... Nice purchase....don't think I have quite large enough ones to attempt such, but that certainly is your trademark. Buy the bottoms....like OCT. I don't see it happening Monday, but one never knows......

To: GROUND ZERO™ who wrote (14954)	2/6/1999 5:46:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

What's with you guys scaring the heck out of me on a Saturday??:) Here was I scanning through SI for a few minutes and I see that all hell seems to have broken loose with talk about a crash and 1987 and so on. Have I missed some piece of news about something going on in the world? BTW GZ, I was trading the markets in 87 and it was a day that I will never forget. I am still short the spoo based on the original signal though the short based on the continuation signal was stopped out -- am still pissed a bit about that. Also short the bonds and went short the yen on Friday -- uncomfortable about the last position but got the sell signal and just followed it. BTW, I could end up going long both the bonds and the yen on Monday -- it is within reach. As far as the spoo is concerned, I expect one more rally commencing as early as Monday but more likely Tuesday -- it is unlikely that we'll see new highs but if the quality of this rally is as deficient as the the recent rallies, I'd say that we should go lower thereafter. I exited about 2/3rds of my trading long positions during the last rally -- as I posted that I would. I will exit the balance of long positions during the next rally. All of this is less predicated on any expectation of a crash and more because I feel that from a risk/reward stand-point it does not make it worthwhile to stay long at this time. I am confident that there will be an excellent opportunity to buy at lower prices sooner rather that later -- and if I am wrong, so be it -- I'll earn interest at t-bill rates for now. GZ, one thing that I am surprised is how negative you have become about the market given that just days ago, you were confident that we were looking at 1340 on the spoo as achievable. I know that the internals have been bad -- but that is not something new. So what is it that has caused you to turn so bearish in a short span of time?? Got to head out now -- will check in tomorrow