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


To: Tom Trader who wrote (15513)2/12/1999 10:19:00 PM
From: Jorj X Mckie  Read Replies (2) | Respond to of 44573
 
Hi Tom,
In lieu of OJ, I thought I would drop by and give you a P&F update. Probably less exuberant than OJ, but I should get the message across quickly.

Still ugly. The main leading indicator, the Optionable Stock Bullish Percent went down again. We would expect it to turn positive a little bit before the NYSEBP. When the NYSEBP turns positive, that would indicate that we have hit bottom and are starting back up.

Of course, these are general trends rather than daily turns, so it doesn't mean squat about what the market activity will be on Tuesday.

JXM



To: Tom Trader who wrote (15513)2/16/1999 8:44:00 AM
From: SE  Read Replies (1) | Respond to of 44573
 
Looks to me like you have a nice gap this morning to fade. I will be closing out my short this am as it appears it did not work out.

If we have a cash gap, which I expect as well, I would expect it to close. It will be a gap from the close, but clearly not on the daily charts. Let's see what happens.

-scott