|
PureBytes Links
Trading Reference Links
|
Not much else on my menu turned out to be compelling so I diddled around
with beans near the lows taking out a couple of pennies on the short side
again then catching a long near the lows only to have my stop run in the
last couple of minutes on Friday. I had to re-enter my long on Monday at
higher prices. Beans have been behaving quite strongly, however there is
strong resistance nearby so I took profits this morning and will look to
re-enter long on a retracement. Am still liking the possibility that the
recent lows will turn out to be a w.2 retracement with a bullish w.3 dead
ahead.
AGet has now renumbered wave counts in cattle putting it in a bullish w.3.
S&P has hit my time and price targets for the initial rally so it will be
interesting to see if we get the expected retracement here or if it will
keep running. From the looks of bonds, a rate increase is expected and will
send bonds on up, the surprise looks like no rate increase. Am watching BP
and SF but still haven't seen anything I want to trade.
Earl
----- Original Message -----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, November 15, 1999 7:57 AM
Subject: [realtraders] wheat and cattle {01}
> S appears to be in a similar situation, with the 460 area providing major
> support during the past 25 years. This area was strongly penetrated in
July,
> has since rebounded, and is once again challenging this support area.
> Seasonals won't become favorable until Spring. Unlike W, open interest and
> on balance volume, is a bit more favorable and there is a possible H&S
> bottom forming in the 457-460 area which is being confirmed by OBV. The
next
> daily turning point I have for S is 17Nov and weekly is 29Nov. Overall,
the
> technicals suggest that S could be setting up a very bullish upside
surprise
|