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I have to look at the primary trend as up and will set my
> trading plan accordingly.
>
> Earl
I take it when you say 'primary trend' you are talking as a position player?
Because as a day trader I am thinking we will see the continuation DS come
the finish... Went short when we went through the major line of 96^15 and
held for the .618 retracement off the intraday low, but we seem to be having
difficulty breaking it again and with the Spoo seemingly detirmined to head
south, I have moved my stop down to yesterday's low. If we breach that
coming back, then we might see an up trend, but at the moment all my
confirming charts are staring at my boots... so let me put my bread on the
table with at least ten ticks and you can have yours if it turns round.
But if we end up with a continuation DS, then we proably are looking at
lower prices in the near term - but Mr Greenspan could change all that next
week.
Bill Eykyn
www.t-bondtrader.com
"Learn to read the tape"
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