|
PureBytes Links
Trading Reference Links
|
I'll be the first to admit to exiting JY long trades when it became clear
that the Japanese Government, which has far deeper pockets than I, wanted to
weaken the Yen. I'm still watching it closely because I'm still long major
fund positions in Asia and I have no wish to give up the gains won over the
past year. My JY work suggests we have entered w.5 and should approach the
previous highs above 9000.
BTW, this is an excellent example of trading what you see and not what you
hear as Martin Armstrong (PEI), who does some excellent work, has been
calling for major decline in both the NKi and JY since last fall.
Earl
----- Original Message -----
From: Rory Lewellen <rl2946@xxxxxxxxx>
To: BruceB <bruceb@xxxxxxxxxxxxx>; <rl2946@xxxxxxxxx>;
<realtraders@xxxxxxxxxxxx>
Sent: Tuesday, August 17, 1999 11:01 PM
Subject: Re: FUT: Japanese Yen & Time/Price/Pattern
> RealTraders,
>
> As anyone watching the YEN can attest, the call for wave 3 down
> looks to
> be wrong. Pretty good chance I'll be stopped out of Sept. @ 88.51.
> No, I did not take any profits in the YEN's shallow down draft.
> Probably should have, sometimes (maybe often) I'll get fixated on
> the
> expected outcome.
>
> Rory Lewellen
|