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Hi Guy,
There is a great entry point for shorts on the S&P right below this
consolidation. A classic method would be to put a sell order in each day
until it is filled.
Regards,
Dick.
-----Original Message-----
From: Guy Tann <grtann@xxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Saturday, 22 August 1998 11:20
Subject: RE: Death of the Bull?
>Dick
>
>Well, wouldn't you know it. Microsoft Office Professional wiped out my
>registry and I had to reinstall Windows, etc., etc. Therefore, when I got
>the Sell signal for Wed night, I was out of the loop. Looks like a great
>sell, so far.
>
>There is still the possibility that we will be provided another sell point,
>but what are the odds. I was out of action, and my brothers new P400 was
>screwed up when his wife, the real estate lady (who makes a ton, BTW) sent
a
>tech home to install some real estate package on it. Wiped him out too.
>We'll have to be real careful not to make modifications to software the
same
>week.
>
>Regards
>
>Guy
>
>
>> -----Original Message-----
>> From: owner-metastock@xxxxxxxxxxxxx
>> [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Dick Simmons
>> Sent: Tuesday, August 18, 1998 8:22 PM
>> To: metastock@xxxxxxxxxxxxx
>> Subject: Re: Death of the Bull?
>>
>>
>> Hi Guy,
>>
>> You might have an entry point for your shorts here.
>> S&P back to almost 90 points from the top, 3 waves up, maybe a
>> lower double
>> top and there is a strong cycle coming in tomorrow which could
>> turn it down.
>>
>> Regards,
>> Dick.
>> -----Original Message-----
>> From: Guy Tann <grtann@xxxxxxxxxxx>
>> To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
>> Date: Monday, 17 August 1998 6:35
>> Subject: RE: Death of the Bull?
>>
>>
>> >Al
>> >
>> >In looking at your post, and starting my trendline from 10-31-97,
>> connecting
>> >it to the bottom of 1-30-98, then we have broken through the
>> trendline this
>> >month. Actually, with a chart with an increasing slope, we have had
>> several
>> >short term trendlines, IMHO.
>> >
>> >Look at the first one beginning at 12-30-94 and extending to 7-31-96. A
>> >second one beginning at 7-31-96 and continuing to 10-31-97. Finally, a
>> >third one beginning 10-31-97 and connecting through 1-30-98. It appears
>> >that we have significantly broken through this last trendline,
>> if we extend
>> >it to the right. By my chart, the next resistance and the next
>> support is
>> >around 1000, or another 60 points down.
>> >
>> >My dad's preliminary estimate for this drop, and these are just rough
>> >guesstimates, was 21-22% which would take us back to the top of the
>> parallel
>> >channel for trendline #1 above.
>> >
>> >I guess, we feel there is the possibility that we could continue for
>> another
>> >60 point drop and if that doesn't hold, then a further decline to the
>> >930-940 level. Now, chart wise, this doesn't make a lot of sense, but
>> these
>> >would be the calculations based upon another methodology we use.
>> Actually,
>> >I was hoping for a run up of from 50 to maybe 100 points before
>> we dropped
>> >to our 1000 support level, giving me an opportunity to get some better
>> >positions to play with. I would feel better if we had a 50 point run up
>> >before we dropped further, otherwise we run the potential of a
>> major spike
>> >down like 1987 and going through the bear market in about a week's time.
>> >
>> >Regards
>> >
>> >Guy
>> >
>> >
>> >-----Original Message-----
>> >From: owner-metastock@xxxxxxxxxxxxx
>> [mailto:owner-metastock@xxxxxxxxxxxxx]
>> >On Behalf Of Al Taglavore
>>
>> >Sent: Saturday, August 15, 1998 1:24 PM
>> >To: MetaStock List Group
>> >Subject: Death of the Bull?
>> >
>> >In my attempts to develop a methodology for trading the S&P and
>> as a result
>> >of looking at different time frames, I offer these observations:
>> >
>> >If anyone will look at the S&P on a monthly MS chart from Jan
>> of 1994, one
>> >will see a fabulous chart that almost looks like a stairstep.
>> >
>> >Since the end of Jan 98 to July 98 there has only been one month that
the
>> >S&P traded below the previous months low, and that was only by
>> 2.31 points
>> >
>> >This is the first month that we have traded significantly below the
>> >previous month.
>> >
>> >If a trendline is drawn from the Oct 97 low, we have YET to touch that
>> >line. It is a sign of strength for a trendline to be touched
>> and therefore
>> >tested, and we have yet to touch the line.
>> >
>> >To all that study channels, I ask, are we not now approaching
>> the bottom of
>> >a short term {based on monthly data} channel?
>> >
>> >Unless 896.75 on a closing basis is violated, are we not in a bull
market
>> >still?
>> >
>> >If we do not listen to T V and read newspapers, but trade off of charts,
>> >could we find a more profitable chart pattern?
>> >
>> >To all chartist, please give an evaluation.
>> >
>> >Al Taglavore
>> >
>> >
>>
>
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