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Hadn't heard of it, Howard, but sounds rock solid to me. Reminded me
immediately of Dan Rather's comments re: extreme bearishness of Soybean market 3
days ago. Since then, straight up. All we need is time magazine to put a
picture of Bull on the cover like they did in Oct 87 and we're set for a career
making trade...
Scheier
Howard Hopkins wrote:
> RT's,
>
> Does anyone else use the contrarian indicator of Maria Bartaroma/Mark Haines
> on CNBC? If we have had strong moves up or down and then get a strong gap
> in the direction of the previous move you can trade counter to Maria/Mark's
> extreme optimism or pessimism.
>
> The CNBC indicator (Maria/Mark) coupled with the market's reaction to HWP
> good earnings were a great contrarian indicator. I sold 1346.7 at 9:48am...
> to bad I covered at 1344.70 on a stop I moved down too close.
>
> Good trading,
> Howard
>
> >From: Johnny Storm
> >To: Real Traders
> >Subject: GEN: Market Direction
> >Date: Tue, 17 Aug 1999 05:04:11 -0700 (PDT)
> >
> >Hey RT's
> >
> >I don't know about you all, but my gut feeling is the market is setting
> >up for a fall. My long term indicators have gone "bearish" (5/6) and
> >my short term bias for today is "down".
> >
> >We had three market Bias indicators on TRADEHARD.com pointing downward,
> >plus my own indicators (3/5). I am curious is anyone reading the
> >market like this today.
> >
> >Ochoa (Hedgefund Manager) went short yesterday and is looking for a
> >target of 1325 in the next couple of days.
> >
> >
> >So, for the day I will be looking for short trades on the 5 minute
> >bars.
> >
> >JS
> >
> >_________________________________________________________
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> >Get your free @yahoo.com address at http://mail.yahoo.com
> >
> >
>
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