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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 (14959)	2/6/1999 10:41:00 PM
From: F Robert Simms	Respond to of 44573

My neural nets are mixed on Monday's close, one long and one short. Even though they were both long I kept my puts and my short on XLK:-) The market didn't look like it was ready to give a good bounce so I didn't go long. Now that one is going back short I probably will keep them unless I think that there will be a good bounce for me to go short again. Best Wishes, Bob

To: GROUND ZERO™ who wrote (14959)	2/6/1999 11:26:00 PM
From: Brian Hornby	Read Replies (1) \| Respond to of 44573

Gz, Looking at the A-D versus NYSE composite, I see the negative divergence. Further looking at the interpretation guide at decisionpoint.com they mention that such divergences are common and are usually meaningless. They mention that they feel the other divergence is more worrying, when the A-D makes new highs and the price fails to follow. I guess my feeling is the divergence we see now is a warning flag, but not yet indicative of a top. Certainly with the other negative factors coming out of the woodwork, caution is warranted. EDIT: McClellan Oscillator at decisionpoint.com is ore negative and gives a SELL signal some days ago, just when the divergence started.

To: GROUND ZERO™ who wrote (14959)	2/7/1999 10:00:00 AM
From: Jerry Olson	Read Replies (2) \| Respond to of 44573

Morning GZ and all.. actually GZ IMO, you already knew the senario, but were too bullish to admit it<g>..... i too became way too bullish even though my friends on the P&F thread kept saying, hey idiot, the indicators are "ALL" on sell signals!!!! some times we just don't "want" to see the forest for the trees..:>} anyway..as of last week the NYSEBP gave a sell signal..this usually means a selloff is coming quickly...however because of the position of this indicator i feel all BK's are out, and the downside will be probably 10%, this time around.. in July of last year the NYSEBP was at 74%, when it gave that sell signal, and then we promptly tanked 20% in short order...here it's at 50% with a downside move to 25-30%, which would signal me to buy that dip...stocks will be onsale...just not fire sale... anyway i'm still in OEX puts for the moment, 3 open option positions and LCOS for the rumor<g...lot's a cash sitting waiting to take the plunge even before the reversal signal... leaving tomr. for NYC, then out to the Islands...will be in and out today... Later