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Lenny and List,
Well we've completed our work and I thought I'd post this before I go to
bed. I was up too late last night. :)
Anyway, my brother and I came to the same conclusion. Hold on tight, but
watch it carefully. His thought is if the NASDAQ is up 100+ points he might
sell out half or all of his positions.
Here is his e-mail to the family, FWIW.
<<Well, we finally have a problem. We have 1/2 of the sell signal but we
don't have the confirming SELL in the sky. This tells us we are close.
Maybe going short on Monday, Tuesday or even Wednesday of next week. Now
the real problem is, "is it worth it for the extra $" to have a high risk
situation over the weekend. Only an individual can answer this. I plan to
keep with the system. It doesn't purport to call the absolute tops and
bottoms, just be a profitable trade. So, bottom line is I am going to watch
this VERY LARGE PROFIT I have tomorrow very closely. If the government
report is bullish, I am tempted to lighten up. I may sell 1/2 of each of my
positions or all of them. I just won't know. I can tell you this, it could
be a bearish report and the system tells me that the market will recover
from it in a few days.
As you can see, tonight, I know we don't have a sell yet, but it would be
stupid to give back this large gain on one number. By the way, that is how
close the sell is to happening. Just one number......
Well, lets hope for a strong opening and then do what my father always told
me.
WHEN IN DOUBT, GET OUT!!!!!!
Even if I get out, we will continue to run the system numbers when we have a
full trade.>>
Anyway, we're both going to be hanging around the house, but my thought is
to ride it out in order to get a better signal. My estimate is that by
holding on, we'll make another 5 to 15 S&P points in the next few days. I
worry when my brother gets out. He's sort of lucky when he gets nervous and
make an emotional trade. OTOH, I tend to stay with the trade.
If we do anything, I'll post it tomorrow, but our guess is that we'll be
short sometime early next week.
Guy
Paranoia...you only have to be right once to make it all worthwhile!
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of ROSOW@xxxxxxx
Sent: Thursday, June 01, 2000 8:46 PM
To: metastock@xxxxxxxxxxxxx
Subject: Re: Careful - is that a sell lurking in the bushes?
Guy,
I see the Naz moving 100 - 140 more points to the upside before hitting
major resistance. It just broke through the first area of resistance @
3477-3503. The way it's been moving this could happen by 10:00-10:30 AM!!
(ggg) Lenny
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