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If you are still long any S&P's or E-Mini's, in my opinion exiting any longs is the thing to do and wait for the next long entry. Aggressive traders may try to enter short in here, currently the ES is $978.00. If the 935 low on 12/19/97 was the start of an impulse wave up and the 968.00 high was the finish of "1" and the next low to 941.25 was "2" and a sharp correction then we just experienced a probable "3". If the "4" following the "3" is sideways then we would wait for a place to be long the "5" for a finally. Be careful and use exit stops always to limit your risk to a pre defined level. The time is 11:24 AM EST.
Trading involves the risk of loss, as well as the potential of profit. Past performance is not a guarantee of future results. This educational service should not be construed to express or imply any guarantee of future profits. All investments carry risk and all trading decisions of an individual remain the responsibility of that individual.
James Semmons
http://members.sockets.net/~jsemmons
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