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Bill, did you exit from this trade?
Suggest you consider this for the back of your mind. The 224 range offers
good short term support for Bean meal right now, and the cycles show today
or tomorrow a bottom pivot, with a static support level of 222.5 to 223.5
area if it makes it's bottom tomorrow.
Weekly trend is still up although this week appears to be a weekly cycle top
which would give many more shorting opportunities in the short term.
I'll be looking to see how SM handles the support area on this daily cycle
bottom due now and the retracement likely to follow. A nice pivot top (rally
top) would be an excellent place to jump on the short end of this stick, or
just below the cycle bottom now due after it makes at least one higher low
day afterwards.
cheers!
:)
rick
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FutureSoft Publishing - Precision Trading
http://FSoftPublishing.com
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-----Original Message-----
From: bill wolfe <bwolfe@xxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, October 16, 1997 12:10 PM
Subject: FUTR:GEN lucky
>Rts,
>I just wanted to share a trade that luck sent my way. I placed an order
>with my broker this am before the market opened to short Dec. soybean
>OIL at the open. He recorded our conversation and commented that
>everything else was up yesterday except this commodity. The last I
>checked, bean oil closed up 20+ pts but I didn't argue. I called back a
>couple of hours later to get my fill. He didn't have my fill but said
>that the market was about 200pts lower. I thought he was crazy until it
>dawned on me that he had put me in bean MEAL---not bean OIL. Last time I
>checked it was in the 224 range. I got filled at 229.00! Did I demand
>for him to clear this up and get me in the right market? Absolutly not!
>I thanked him. I'm up about $400+. Finally luck was on my side.
>Good luck to you all!
>B. Wolfe
>ps. by the way I would have lost about $180 on the oil trade.
>
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