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<DIV><FONT color=#000000>Am primarily a silent reader of this group. Could best
be described as</FONT></DIV>
<DIV><FONT color=#000000>very interested in trading but a wimp. One area of
discussion that I have</FONT></DIV>
<DIV><FONT color=#000000>thought and read about is the elliottt wave theory.
Read one of Elliotts</FONT></DIV>
<DIV><FONT color=#000000>books and last year read At the Crest Of the Tidal Wave
(Prechter). </FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV>In my opinion at best these interpretations of human conduct and</DIV>
<DIV>financial events are subject to some very wide windows of activity.</DIV>
<DIV>Prechter obviously missed a very specific call for a major market</DIV>
<DIV>top. However, many other observations seem to be falling into place.</DIV>
<DIV> </DIV>
<DIV>In fact before the end of the decade we may have the big Kahona of</DIV>
<DIV>all bear markets. On the other hand we may not. If the Elliott wave
theory</DIV>
<DIV>could be applied reliablly - short term - up/down - why care
?</DIV></BODY></HTML>
</x-html>From ???@??? Mon May 11 06:24:12 1998
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Date: Sun, 10 May 1998 21:58:27 +0000
Reply-To: mrktwiz@xxxxxxx
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From: John Armstrong <mrktwiz@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: future Oil prices
References: <19980511041610.26654.qmail@xxxxxxxxxxx>
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>Ben wrote:anyone willing to give an outlook on oil prices for next 6 months?
Ben;
Long term I believe Oil prices will rise overall, but short term here is
my plan for tommorow morning.
The bond rally failed, and so did my plans to sell the June crude
at 14.99 stop. The XOI index was neutral to slightly firmer.
I’ll be watching the XOI index tomorrow for a decline. If it drops
below 486.50, I’ll re-enter a order to sell the June crude at
14.99 stop. I’ll protect 23 ticks above once filled for a $230 risk
target.
Also tommorow - Long Soybeans
I also check the Mexican Peso for confirmation if up, I ll go long
Silver also. Buy stop at 597 1/2.
I also like Cocoa (long), Cotton (in preparation for the Tues. reports
that will show low plantings Cotton already had a good run Friday will
continue)
Good trading all , just some idea's I'll be trading next week
John - mrktwiz@xxxxxxx
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