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Mark,
Got a little picture or write-up of the Railroad Tracks in the Country?
This weather market reminds me of a "Dead Skunk in the Middle of the Road"
formation (it really stinks, it ain't going nowhere and the smell lingers
even after you run over it). Beware of markets that make the evening news.
Tuesday's outside day(Edwards & Magee) or bearish engulfing pattern
(Japanese candles) left a fairly good clue. I couple of good "downpours"
should wash the "stink" off the road and we get back to normal in the
grains (zzzzzzzzzzzzzzzzzz). Don't know if I can stand the excitement of a
"normal" grain market.
Steve Karnish
CCT
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> From: Valhalla Futures <scheier@xxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Wheat........
> Date: Thursday, August 05, 1999 8:44 AM
>
> Hey Adam, thought I'd throw in a few cents worth on this one too, FWIW.
> Understand your thinking on the grains, pretty good argument that an
impulse
> move might have gotten started here, too bad all the weather scare might
be
> clouding our judgement. One thing of interest that has me shorting
wheat at
> yesterday's close and today just after open is the current chart pattern.
> DiNapoli calls in Railroad Tracks in the Country. If you saw how it
topped
> Silver last May, Sugar last June, and Rice two days ago, you'll recognize
the
> power of the directional change is suggests. To counter this thinking,
and get
> right again with the trend if in fact it is the beginning of a runnaway
bull,
> I've buy-stopped the Dec Corn high signal-reversal of two days ago. And
I've
> got a tight stop on my wheat short on the assumption that it either is
this
> DiNapoli pattern or it is not, and doesn't need a big stop thereby. In
this
> fashion I'm positioned, I hope, to let the market tell me which way it
wants,
> and not my forecasts, nor even the weatherman's forecasts. I don't know
about
> his track record, but strickly speaking for myself, my track record is
perfect:
> I've never actually been right. ....but I do pretty good in the
markets
> anyway. <g> Good luck with your decisions.
>
> Mark S.
>
> Von Hef wrote:
>
> > Steve and Claud,
> >
> > I also appreciate the contributions you guys make to the list.
> > I guess I should learn to exercise more patience like you Claud,
> > but inevitably I find myself in and out with the momentum indicators
> > in the direction of the trend. Perhaps if I can learn to trust a system
> > such as Steve's, I can feel a little more confident going against the
> > trend. I have also been watching wheat for weeks and at this stage
> > of speculation, believe this could be a big move to the upside.
> > Later,
> > Adam
> >
> > ----- Original Message -----
> > From: Claud Baruch <ClaudB@xxxxxxxxxxxxx>
> > To: <metastock@xxxxxxxxxxxxx>
> > Sent: Wednesday, August 04, 1999 5:29 PM
> > Subject: Re: Wheat........
> >
> > > Steve,
> > >
> > > I waited many months for what's happening now in wheat. I'm not an in
and
> > out
> > > trader
> > > but exercise patience to initiate positions. (long or short). Happy
to see
> > the
> > > money
> > > you made with the calls. I have quite a few myself and while I too,
> > thought
> > > Tuesday's
> > > action was a near term top, I'll sit it out through the correction. I
> > think
> > > there's much
> > > more coming.
> > >
> > > I've had the wheat chart posted at my little website for quite a
while now
> > and
> > > things
> > > seem to be falling (rising) into place.
> > >
> > > Thanks for your comments.
> > >
> > > Claud
> > >
> > > Steve Karnish wrote:
> > >
> > > > Adam and Claud,
> > > >
> > > >
> > >
> > > --
> > > http://pw1.netcom.com/~claudb/
> > >
> > >
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