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Re: Gen: Stock Market -



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Follow up... yet another new 3-day high.  My short was not triggered.  Short
term oscillator is very over bot.   Friday is the second day following the full
moon.  Will keep waiting.


> RTs -
>
> Follow up....  Downside SPX cash target area is 1020-1050.  SPX fututres
are off 6.00 as I write this.  Will go short on the close if below 1105. Stop at
1115.  Acceptable risk/reward of approx 3:1.
> If downside move develops and performs as targeted, this will confirm a
change in trend from bear to bull.
>
> Steve
>
> >>> Steve Walker <Steve@xxxxxxxxxxxx> 11/04/98 04:15PM >>>
> RT's
>
> I have been looking for a top in the 1128 SPX area.  I arrived at this by
> taking the July top of 1191 less the August low of 939 or 252 points * 75%
for
> 189 points.  Add this to the August low of 939 to get 1128 on the SPX.
> Today the cash SPX made a high of 1127.18 before closing lower on the
> day.  Today is Nov 4, which is a full moon and much has been written in
this
> forum of the market declines which often accompany a full moon.
> Additionally, Gann wrote that there is often a CIT in early November during
> election years.  I will be watching my short term indicators to initiate a short
> position.  I have not calculated my target low based on today's price action
> however using yesterday's I get a downside target of 1015-1050 using
Gann
> Angles and 1030-1055 using an Andrews calculation.
>
> Steve
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