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

To: Jack of All Trades who wrote (20803)	4/12/1999 12:51:00 PM
From: SE	Respond to of 44573

Yes, gap closed and we are at the middle tine of one fork and close to the upper tine of a downward fork I drew in using Friday's highs. If we blow through 1365, the fork I drew in using Firday's high is a fake out and the real pivot is higher up. That is why I think it is a relatively safe short. Short it with a stop at 1365....you don't lose too many points. Besides we are 30 points off the overnight Globex lows....20 points from the real time lows. That in itself is a healthy move and things should slow down. OF course, OTOH, if we keep going up, I did not write this post and a bigtime BWDIK!