|
PureBytes Links
Trading Reference Links
|
The market performed as expected on Monday. It made its high first in
the day and then worked lower. That's the good news. The bad news
is that none ofl my short stock picks ever failed and did not trip my trigger
prices.
On Tuesday I would expect the market to mover lower and I would be
ready to go long at a stall or reversal around Monday's low of 979.57.
However, Monday's close was about midway between the high and low
of the day and the market is not oversold. So, I will watch the first hour
trading high and low and fade a move to these levels later in the day.
Who has some good Long and/or Short stock picks for tomorrow?
>>> "Steven C. Walker" <Steve@xxxxxxxxxxx> 12/08/97 05:42am >>>
I favor the short side of the market for Monday, 12/8. I expect the S&P
500 to open higher. I will be watching the price action at two points,
Friday's high of 986.25 and or 987.30. If it stalls or hits either of these
and reverses, I will be trying to go short stocks and buying in the money
index puts. Take a look at JBIL,LSI,TXN, and UTR. I especially am
interested in the first two. They are wound tight and may be ready to
resume their downward movement if the market turns lower.
As always, my expectations are simply that. I will wait for the market to
show my the way.
|