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FOMC meeting tomorrow....that's why things aren't doing what you want.
Anytime they have these meetings...or I see Greenspan on the TV
I stop looking for logic and go w/ the flow or stop trading.
good luck
> -----Original Message-----
> From: Michael Mangiafico [SMTP:mmangia@xxxxxxxxxxxxx]
> Sent: Monday, May 18, 1998 12:32 PM
> To: RealTraders Discussion Group
> Subject: S&P 500
>
> I am short the S&P 500 futures contract right now (my model has been
> short since last Thuursday night.) Has anyone else wondered why the
> S&P 500 and the futures refuse to go down in this 2 day down move.
> The
> dow is lower, as is the Nasdaq, and all of the European markets also.
> Everyone keeps talking about the "breadth" of the market being
> negative,
> but the S&P 500 has limited its downward move, and the futures refuse
> to
> go down. The S&P futures traditionaly lead the stock market, up or
> down, but yet they are not leading this down move. Any insight on
> what
> may be in store for this market over the next two days, or even the
> end
> of this day? I have a break even stop on, which is good, but it is
> only 8 points away, I would like to put on at least a 5 point profit
> stop before tomorroww but the futures just keep hanging around.
>
> Regards,
>
> Michael Mangiafico
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