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Hi Mervin,
Actually is wasn't an "irrational trade". The fed could only do 4
things: raise rates (not likely), hold, lower 1/4, or lower 1/2. The first
3 would cause a drop in the market. Only the fourth would have had a
positive effect on the market. So, the odds where 75% in your favor.
Good luck and good trading,
Ray Raffurty
-----Original Message-----
From: Tin Mervin Yeung <tinyeung@xxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, October 01, 1998 11:57 AM
Subject: DJZ8
>Hi, RTs,
>
>Fundamentally, I am bearish on stocks. One of the reason is flat yield
>curve. Technically, DJI just broke out downward from an ascending wedge
>formation. (I got in at the top of this wedge (8200) --one day before
>the Fed rate cut--I was really gambling. Although so far it is a very
>profitable trade, it is a irrational trade. )
>
>This was my actual trade, not a trading advice.
>
>Mervin
>
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