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G.John Boggio wrote:
>
> At 09:24 PM 2/2/98 -0500, you wrote:
> >May Bellies had a reversal day today off the expected target
> >price for the end of the a-b-c correction.
> >Look for at least a test of contract lows
> >Attachment Converted: "c:\eudora\attach\pb8k.gif"
> >
>
> Alan and RT'ers,
>
> Based on the chart that Alan sent earlier tonight, I noticed a
> symmetrical wave relationship that would concur with Alan's analysis of a
> continued decline.
>
> If you take a look at Alan's chart, you will notice, based upon visual
> inspection, this market had approximately a 7 point rally which occurred in
> October 1997. This rally could be considered a Wave 1-2. After the wave 2
> high, the market declines to its recent low in January '98 and then
> "appears" to rally approximately 7 points, again. This rally, in a
> downtrend symmetrically matches wave 1-2 and would suggest that this market
> should continue lower.
>
> Hope this helps,
> John Boggio
Alan and John,
I have just one question, with only 600 contracts trading per day,
how does one plan to get in or out of this market? Who are you going to
trade with? This reminds me of when I was on the CBOE. When an
occasional order would come to an inactive class of options, and no
market maker was present at that post, they would have a market maker
call. That means that over the P.A. system they would say, XZY market
makers, please go to XYZ. If no one showed, everyone registered for that
class of options could receive a fine. Usually someone would show, but
if there was only one XYZ market maker near the trading floor, and they
called when the guy was "indisposed" it might take a few minutes for him
to arrive. <G> Unfortunately, they have no such obligatory arrangement
in the Pork Belly pit. So, spin the Pork Belly wheel of fortune.
Good Luck,
Norman
>
>
>
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>
> Name: pb8k.gif
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>
> For recent commentary and more informations regarding SymWave, please go to:
>
> Commentary: http://www.realtraders.com/boggio/disc7_toc.htm
> Info regarding SymWave: http://www.realtraders.com/boggio/boggiobio.htm
>
> Thank you.
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