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If this [bearish] scenario is true, then you should note that the
10,600 is a WEAK support...
Dimitris
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
>
> Yuki,
> How about testing the 10,600 soon ?
> Dimitris
> --- In amibroker@xxxxxxxxxxxxxxx, Yuki Taga <yukitaga@xxxx> wrote:
> > Hi DIMITRIS,
> >
> > Nothing happened today to change the viewpoint I had yesterday.
We
> > tried higher in the AM and failed; we tried lower in the PM and
> > failed. Futures closed unchanged, ^225 down less than 0.2
percent.
> >
> > It still looks constructive to me (and I remain holding a modest
> > amount of longs that are green). A good initial test area is about
> > 10,930 basis the ^225, and we held that without even a touch. At
> > about 10,865, I'd consider putting on some serious additional
> > positions and give them 72 hours or about a percent, maybe a
percent
> > and a half. I don't really expect to see that opportunity, but
it's
> > a target and it's certainly a possibility with this low volume
this
> > week. Both lines are rising now, however, so the targets tomorrow
> > will be easier to hit. As the lower target approaches 10,900, if
we
> > are still hovering here the Osaka gang may decide to hit it and
see
> > what happens psychologically.
> >
> > On an "eyeball" basis, what I saw today was: No large buyers
pushing
> > higher at all, but numerous large buyers sneaking in from time to
> > time to pick off large offers once they built up after periodic
> > weakness followed by little or no bounce. Bids were being hit
mostly
> > by smaller players, it appeared. Shake the tree and see who falls
> out
> > -- some people are positioned well and can take a 2 or 3 percent
> dip,
> > some can't.
> >
> > The old adage about never shorting a dull market may be operative
> > right now.
> >
> > Best,
> >
> > Yuki
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