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Recap of 9/22/99
S&P closed at 1321.8 today.S&P had an entry long at 1315.3 and went to
completion at 1328.2 for almost 13 points.I only took part of the move
as I am still trying to systematize this.The reversal would have also
won you almost 9 points.
Nasdaq closed at 2537 today.Nasdaq had an entry long at 2498 and went
to completion at 2526.The reversal was stopped out.
For 9/23/99:
Buy S&P at Support of 1316.1 with stop at 1311.4 and profit target of
1327.5.I am thinking in terms of a trailing stop equal to the stop of
4.7 points oco/moc.
Sell S&P at Resistance of 1327.5 with stop at 1333.2 and profit target
of 1316.1.Same trailing stop as above only 5.7 points.
Take whichever trade comes first.
Buy Nasdaq at Support of 2519 with stop at 2501 and profit target of
2555.Trial trailing stop equal to 18 points oco/moc.
Sell Nasdaq at Resistance of 2555 with stop at 2573 and profit target
of 2519.Trailing stop same as above.
I tried to do the Bonds for a few requestors but the volatility of
9/22/99 made the numbers too tight to be realistic for 9/23/99.I will
keep an eye on it and try again when volatility increases.
Take whichever trade comes first.
John
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