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I'd prefer to see SP9U spike through 1350-51 or even retrace to 1342-44
before breaking this morning's 1333 low. The intraday McClellan Oscillator
is suggesting that the rally is on weak legs.
Earl
----- Original Message -----
From: Howard Hopkins <hehohop@xxxxxxxxxxx>
To: <iceman_nrg@xxxxxxxxx>; <realtraders@xxxxxxxxxxxx>
Sent: Tuesday, August 17, 1999 9:55 AM
Subject: Re: GEN: Market Direction
> 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.
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