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Saw the last part of STEVE POSER's interview on CNBC. Assuming this
is the same STEVE POSER on this group :))... could you elaborate on the
SP wedge formation shown?
-----Original Message-----
From: Steve Walker <Steve@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Tuesday, November 10, 1998 9:14 AM
Subject: Re: Gen: Stock Market -
>Good Morning RTs -
>
>Yesterday was the 3rd trading day following a full moon... and the market
moved down. This move up has run 22 trading days and its time for a
reversal. If the close today on the cash SPX is less than 1121 will take a
short positon with a stop of 1138 and a downside target in the range of a
close 1020-1060 .
>
>Steve
>
>>>> Steve Walker <Steve@xxxxxxxxxxxx> 11/05 4:24 PM >>>
>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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