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

To: doug-e-mini who wrote (20275)	4/6/1999 12:20:00 PM
From: SE	Read Replies (1) \| Respond to of 44573

#reply-8731424 Then again....

To: doug-e-mini who wrote (20275)	4/6/1999 10:22:00 PM
From: SE	Read Replies (2) \| Respond to of 44573

Bonds: This move is kinda parabolic. I did not realize the length of the move until I printed out and studied some charts tonight...but WOW. Straight up. OJ was right...rally in the bonds. However, it appears to me that the rally is about to pause. I think 122'07, if we get that far, might prove a good shorting opp. It is quite possible that the shorting opp is right here at this level. We are at the upper tine of a new fork currently ant 122'07 is the middle tine of a larger fork. If we pull back fairly quickly the first stop should be about 121'16. Should that fail, we could see 121'00 rather fast. Both spots would be good places to add as I believe bonds are heading higher from here. Very likely we are looking at at least 123'00 before any significant change in trend and it could be more depending upon the time it takes to get there... SPX/SPOO: You should see this chart...wow what a lot of forks I got going on.... There is a confluence ( I think that is the right word, if not I mean A LOT!) of tines in the 1301-1305 area basis SPX. IF that area fails, then I see 1280/1260/1250 as the most logical bounce points. TO the upside we need to get through 1322/1325 and then we are going to 1348 and rising. A biggie long term fork's middle tine is at 1411 tomorrow and rising. Basis SPOO looks like 1335/36 is a sell, with a three point stop possibly SAR and then if 1335 does not hold on the way back down I was suspect we get to 1322, 1315 and then 1303 or so. If 1311/15 fails, you want to be short I think. The open should give us some clues to work off of. I don't have a solid way to play it, but I would look for a sell in the mid 30's with a high 30's stop. We get through high 30's and I think you want to be long. Not sure this will help anyone, but it is my quick and dirty read tonight. -scott