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Howard,
Here's a couple of more "looks" at the sugar market. I use fib moving
averages to define trading ranges and identify support and resistance. I'm
always amazed by a couple of points:
1. Prices hate to travel through lines that are contrary to the price
direction.
2. The more lines in a specific area, the stronger the support/resistance
is and usually the narrower the range.
3. The lines do a great job of defining daily ranges.
My momentum histograms suggest that the market is very oversold.
If you want to be safe and late, trade the next upturn in the 13 day moving
average. If you want to be early or anticipatory, use the fib retracements,
other support help, and momentum oscillators.
I continue to be long this market. I've been very fortunate to catch a
great ride. I add on retracements and toss it too 'em when we hit obvious
resistance areas. I'll tell my grandchildren, in a few years, how I bought
sugar as low as 4.08.
Steve Karnish
Cedar Creek Trading
http://www.stny.rr.com/abbracadabra/cybercast/
----- Original Message -----
From: Howard Hopkins <hehohop@xxxxxxxxxxx>
To: <kernish@xxxxxxxxxxxx>; <realtraders@xxxxxxxxxxxx>
Sent: Friday, October 08, 1999 11:39 AM
Subject: Re: sugar "fib" boxes
> Steve,
>
> From the fib boxes do you project the next box to be drawn higher or
lower?
>
> Howard
>
>
> >From: "Steve Karnish" <kernish@xxxxxxxxxxxx>
> >Reply-To: "Steve Karnish" <kernish@xxxxxxxxxxxx>
> >To: "List" <realtraders@xxxxxxxxxxxx>
> >Subject: sugar "fib" boxes
> >Date: Fri, 8 Oct 1999 11:29:55 -0700
> >
> >List.
> >
> >Trading ranges can, at times, be defined by the fibonacci retracement
> >areas. Here's some box constructions based on the retracement levels.
> >
> >Steve Karnish
> >CCT
> >http://www.stny.rr.com/abbracadabra/cybercast/
> ><< 108sbh2.gif >>
> ><< 108sbh.gif >>
>
> ______________________________________________________
> Get Your Private, Free Email at http://www.hotmail.com
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