|
PureBytes Links
Trading Reference Links
|
Russell wrote:
>
> I'm just pissed off and on. I have been on the wrong side 4 times in
> the last month. I seem to be a day late and a whole lotta dollars
> short. So far I am only down about $200 all together. I missed the
> jump yesterday or I would have at least been even with that. Let's
> hope for another jump back up tomorrow.
>
> On Thu, 02 Apr 1998 20:41:42 -0500, you wrote:
>
> >Well Sugar retreated today to a level that stopped me out at 9.89. I am
> >now uncertain. A 3 wave rise is evident. The retracement was too deep
> >for me to see this last wave as impulsive. Any opinions???????
>
> Thanks,
> Russell
> acgeeks@xxxxxxxxxxx
> www.bjassociates.com
If you have been wrong 4 times and lost only 200.00 you must be setting
your stops awfully tight. I bought 3 contracts on 3/5 paid 9.83, bought
additional 3 on 3/30 at 9.56. Original stop was set at 9.17 and was
raised incrementally 10 cents where it now stands at 9.47. If you are
after a quick profit and in and out I do not believe that sugar is a
proper commodity. I for one believe that we will have sugar over 10
cents in the near future and will add to my position averaging down my
cost if the market goes down in the meantime. Minor support is 9.48-9.31
(50%-78.6% Ret) Major support 9.42 - 9.03
John
|