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Hi, RTs,
A friend of mine called me and asked me how and where to go short Dow
Jones Futures. His account is not big so I advised him to go long
Eurodollar (EDZ8) instead. I told him that the only way for him (small
account) to get in Dow Jones Futures is to wait for a rally-- if a rally
brings DJZ8 back to a level close to 8000, then go for it. A stop loss
shall be placed at about 8270. Risk is $2700-$2800 per contract. I
went short DJZ8 on Monday at 8200, before Fed's meeting. I guess I was
lucky.
Brazilian is going to have an election on Oct.4, 1998. Latin American
nations have a tendency to protect their currencies and equity markets
before election. After election, well... remember Mexico in Dec.1994??
All of the above is my personal opinion. It is NOT a trading advice.
Mervin
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