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Correction - should have read "There should be time to add additional longs
if/when it tests the 707 area and retraces."
----- Original Message -----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxx>
Sent: Friday, October 08, 1999 10:11 AM
Subject: Re: Sugar
> The best I can wish you is low slippage - the low volume and further
decline
> in open interest reported last evening for Wednesday's decline gave me the
> final nudge to go long this morning on yesterday's inside day setup. It
was
> a very low risk entry because it opened down, declined to within a tick of
> Thursday's inside day low, and then rallied. I did my initial long on a
stop
> one tick above Wednesday's 677 high and added on the retracement when no
> significant selling materialized on the breakout. This is still early in
the
> game and I'm in for only half of a position. There should be time to add
> additional longs if/when it tests the 790 area and retraces. There remain
> some negative possibilities - a completed ABC correction on 20Sep with
> another major decline ahead or an extended w.4. The low of the inside day
> should hold and it would nullify the entire bullish scenario if it is
taken
> out today.
>
> Earl
>
> ----- Original Message -----
> From: Howard Hopkins <hehohop@xxxxxxxxxxx>
> To: <eadamy@xxxxxxxxxx>; <realtraders@xxxxxxxxxxxx>
> Sent: Friday, October 08, 1999 9:44 AM
> Subject: Re: Sugar
>
>
> > Earl,
> >
> > I'm short from 6.73. Didn't like the support and the bounce on higher
vol
> > like you pointed out. I sold it to see it break at least to 6.50.
Since
> it
> > hasn't done that I've moved my stop down to 6.85 (a tick above today
> high).
> >
> > I hope it break this afternoon, but the support looks pretty good.
> >
> > Howard
> >
> >
> > >From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > >To: <realtraders@xxxxxxxxxxxx>
> > >Subject: Re: Sugar
> > >Date: Thu, 7 Oct 1999 06:25:48 -0600
> > >
> > >Those who follow sugar might want to take a look at the volume and open
> > >interest for the past 10-12 trading days and especially the past couple
> of
> > >days. Nuts and bolts, with the exception of 27Sep, volume has declined
> > >noticeably when prices have declined and expanded when prices have
> rallied.
> > >The 3 trading days prior to 6Oct (volume not available yet for 6Oct)
> showed
> > >sharp declines in price (especially 5Oct) and minimal contract volume.
> > >During the 4 higher volume trading days 27-30Sep, prices declined on
only
> > >one of the 4 days and open interest dropped by 15%. Further, 6Oct
closed
> as
> > >a reversal day after bouncing sharply from Fibonacci and pivot support.
I
> > >believe we will shortly retest the highs and will be building a long
> > >position in sugar.
> > >
> > >Earl
> > >
> > >----- Original Message -----
> > >From: Earl Adamy <eadamy@xxxxxxxxxx>
> > >To: <realtraders@xxxxxxxxxxxx>
> > >Sent: Wednesday, October 06, 1999 5:29 AM
> > >Subject: Re: Sugar
> > >
> > >
> > > > For the time being, I generally agree in direction although I was
> happy
> > >to
> > > > walk away with only 100 points per car on my last sugar trade out of
> the
> > > > tight congestion around 600. I believe it's headed back to 630-640
> area
> > > > basis Mar00 in what looks like a nearly completed 5 wave corrective
> > >decline
> > > > which has failed to mount any significant distribution (viewed by
OBV)
> > >while
> > > > open interest has declined significantly. Should the congestion area
> > >fail
> > >to
> > > > hold, the weekly charts would confirm the entire rally as an ABC
> > >corrective
> > > > rally and the monthly would charts portend a rather nasty 5th wave
> > >decline
> > > > into the area of the 85 lows around 260.
> > > >
> > > > Until I see evidence to the contrary, I am standing aside and
watching
> > >for
> > > > opportunity to go long for a relatively long term position trade.
> > > >
> > > > Earl
> > >
> > >
> > >
> >
> > ______________________________________________________
> > Get Your Private, Free Email at http://www.hotmail.com
>
>
>
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