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Realtraders,
A few minutes ago, I wrote the below message. I just wanted to add one
more comment. For those of you who are not normally 'short-term' traders
and are currently short the market, HOLD YOUR SHORTS. Do not sell it based
on this very short term analysis, you may miss the next opportunity to
again go short due to the fact that you are not usually an intraday trader.
Thanks, and I hope this helps,
John Boggio
PS Usual disclaimers apply.... these are just my opinions and I am not
giving specific trading advice although I try to give detailed analysis.
Let's try not to confuse the two...legal reasons I guess. Thanks again.
At 02:40 PM 7/21/98 -0400, G.John Boggio wrote:
>Realtraders,
>
> Several days ago, I posted a message indicating several symmetrical wave
>structures that I was following. Attached is simply a very short term 15
>minute chart which is a continuation of one of last weeks chart. If you
>recall, I indicated that our shortest term wave structure measured 18.80
>points on the SPU8, +/-3.76 points. This original structure is indicated
>on the chart as wave aa - bb. As I mentioned, this wave structure is
>overextended and new purchases should not be taken based on this wave.
>
> However, for those of you who may be extremely short term intraday
>traders, you will see that the SPU8 is currently down 1150 to 118210
>(2:35pm edt). Believe it or not, the market should find temporary support
>in this area. Personally, I am covering my shorts and will look to short
>again near the 1188 -1192 area (at this time). I am not going to buy the
>support level, based on symmetry wave theory, it is too overextended and
>thus too dangerous.
>
>Thanks,
>John Boggio
>
>
>Attachment Converted: "c:\eudora\attach\sysp0721.gif"
>
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