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I am sending this on behalf of Tom Stein who is having tranmission difficulties.
Eddie
-----Original Message-----
From: Tom Stein [SMTP:ComFut@xxxxxxxxxxxxxxx]
Sent: Thursday, September 11, 1997 6:26 AM
To: Eddie Kwong
Subject: Re:Help
Eddie....since I can't get in...could you please, send the below post to
RT????
Thanks...Tom Stein
I wanted to follow-up the swing trade re:copper that I posted on Aug. 20th(see
below for the post)...
We have just about hit the target of 94.00 on Dec. copper......watch the
spread
between Dec. and March...IF it starts to bottom and move up it will indicate
we are in the area of the seasonal low....
IF you shorted or sold calls based on my earlier post.....keep a close eye out
for a bottom(ie:tighten up stops)
BTW-the purpose of the earlier post was not to recommend, but to give a real
time example of how simple you can keep this trading business and still have a
shot at success.
Hope this has been a help...Tom Stein comfut@xxxxxxx
Post from
8/20/97..................................................................
<Copper......December
1st drop was 114.80-99.80=15.00
retracement was 99.80-109=9.20
9.2/15=.613.....618 is a very common retracement number
Where to next???????
If this next decline is at least as large as the first...we would expect Dec.
Copper to fall to a minimum of 109-15=94 cents.
Seasonally copper tends to bottom in late September-mid October.......
so......the bias should be down for the next 4-6 weeks...so...one might look
to
use strategies that would profit if copper declines>
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