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Bob:
Well, we're looking at different time frames here, I believe.
First, I am advising no one to take any action.
Second, my point was simply that I am finding it easier during the morning
hours to sell at what I see as overhead resistance and then take logical
profits than doing the reverse.
Frankly, taking back a step, at least at the moment, I see too little
action to hold any position for any length of time. I also don't yet see a
trade location I'd consider acceptable. I WILL still be a seller at
overhead resistance and I'll simply have stops above the recent major swing
high--if price is strong enough to take out that level, I am certainly
willing to get stopped out. Getting long here? Not me....I don't see the
risk reward. Slightly lower, I guess I could buy at 1256 and then stop out
below 1250 or so, but that seems less well defined for me.
What are other people DOING? I haven't a clue. I don't have a TV here,
don't listen to the radio, don't get a newspaper and I try not to read what
other people are saying about their positions--I find I just trade better
that way. The market will do what it does, no matter what position I have,
so I'll live or die but what I see in the price.
If you see upward moves from here, that's ok with me. I just thought I'd
show a chart of what I was seeing this morning, through my lines and MLs, etc.
Tim
At 11:27 AM 3/7/01 -0800, you wrote:
>Everyone is selling it. The trouble that I see is that all "knowledgeable"
>people are selling into every rally and predicting lower prices while
>making claims that too many people are positive on the market. I don't see
>these positive hordes and find the market over-all sentiment to be mostly
>negative. I would caution against large short positions into such unified
>opinion.
>
>Bob
>
>
>At 10:14 AM 3/7/2001 -0600, you wrote:
> >Morning!
> >
> >Here's what I am seeing...I''m a seller of this current rally...Overhead
> >resistance at 1266, 1268.50, 1270.50 and key swing high resistance at
> >1277...First support is 1253-54 and then 1250.
> >
> >Tim Morge
> >www.medianline.com
> >
> >To unsubscribe from this group, send an email to:
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> >
> >
> >
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> >
>
>
>
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