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<font size=3>Realtraders,<br>
<br>
In lieu of the recent posts on the direction of the S&P, I
thought I would attach a 60 minute chart of the S&P Cash.
Simply, in light of a quickly declining VIX and a market that is clearly
approaching resistance on the 60 minute time frame, I do NOT think
aggressive buying of equities is the best strategy at this point in
time. Personally, I just picked up some OEX Nov 690 puts at
15.125.<br>
<br>
Hope this helps,<br>
John Boggio<br>
<br>
<br>
At 10:27 AM 10/8/99 -0600, Earl Adamy wrote:<br>
<blockquote type=cite cite>Caution - just got a VIX alert at 22. The
20-22 area often marks<br>
short/intermediate term tops and 30 often marks short/intermediate
term<br>
bottoms. Tops/bottoms generally occur within a day or two of hitting
these<br>
levels. The speed of the decline from 31+ on 24Sep is indicative of very
low<br>
fear levels.<br>
<br>
Earl<br>
<br>
----- Original Message -----<br>
From: Ned Markson <cnedgo@xxxxxxxxx><br>
To: swp <swp@xxxxxxxxxx><br>
Cc: <Proffittak@xxxxxxx>; <realtraders@xxxxxxxxxxxx><br>
Sent: Friday, October 08, 1999 9:06 AM<br>
Subject: Re: sp500<br>
<br>
<br>
> In the FWIW department, my midterm indicator alerted a change
in<br>
> market from bearish to bullish last Friday and turned bullish
at<br>
> the close on Monday. I went long on Monday at the close.<br>
><br>
> Ned Markson<br>
>
http://users.erols.com/cnedgo/123.2297/fcst61.htm<br>
><br>
> swp wrote:<br>
> ><br>
> > The cash market is well above the 200-day and traded above the
50-day<br>
> > but did not close there yesterday. I think those numbers are
more<br>
> > important than the futures which are distorted by the interest
rate<br>
> > component.<br>
> ><br>
> > Steve<br>
> ><br>
> > ---<br>
> > Steven W. Poser, President<br>
> > Poser Global Market Strategies Inc.<br>
> ><br>
> > url:
http://www.poserglobal.com<br>
> > email: swp@xxxxxxxxxxxxxxx<br>
> ><br>
> > Tel: 201-995-0845<br>
> > Fax: 201-995-0846<br>
> > ----- Original Message -----<br>
> > From: <Proffittak@xxxxxxx><br>
> > To: <realtraders@xxxxxxxxxxxx><br>
> > Sent: Thursday, October 07, 1999 9:37 PM<br>
> > Subject: sp500<br>
> ><br>
> > > j: sp500<br>
> > > Date: 10/7/99 9:34:14 PM Eastern Daylight
Time<br>
> > > From: Proffittak<br>
> > > To: realtraders@xxxxxxxx<br>
> > ><br>
> > > hello again<br>
> > ><br>
> > > sp is trying real hard to get over 50 day and
200 day m/a<br>
> > @1338-1340 area<br>
> > > McCllulen osc was showing a bullish
divergence<br>
> > > and new lows are decreasing<br>
> > > i suspect we penetrate and close
above 1340 soon<br>
> > > big question then is: are we on our way to new
hi??<br>
> > > i suspect we get the answer AFTER
expiration<br>
> > > (i personally did an anticipate a trend
instead of waiting for one<br>
> > to<br>
> > > develop and lost 24 points)<br>
> > > happy trading<br>
> > > Ben >><br>
> > ><br>
> > ></font></blockquote></html>
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