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FWIW, the live365 commentary described probably the first 5-7 points
today as all locals.
Also of note, the high tagged the lin scale .618 at the same time the
Dow tagged the downtrend line off the high
Chris
--- In realtraders@xxxx, "Randall Kurzon" <rkurzon@xxxx> wrote:
> I would like to know if considering the large number of traders and
firms
> now trading electronically if you, Earl & Tim, believe it is still
possible
> (other opinions welcome too!!) for the locals to move the market? I
should
> think it would be nearly impossible for them to have a major effect
nowadays
> like they were able to in the past. Comments?
>
> Regards, Randall
>
>
> ----- Original Message -----
> From: "Timothy Morge" <tmorge@xxxx>
> To: <realtraders@xxxx>
> Sent: Monday, April 30, 2001 14:49
> Subject: Re: [RT] E*Mini S&P update
>
>
> > Earl:
> >
> > Well...I'd like to lie and say it didn't bother me. But having
missed the
> > move up Friday-early today, I am willing to risk the 5 pts to new
highs. I
> > liked that it tested the 1270 area several times before lunch and
could
> not
> > break through...leaving that cluster of lows.
> >
> > It's 1;48 cst and S&Ps are at 1255. I am still short and I've
moved my
> stop
> > down to 1263, which is a touch above the overnight gap. If
further new
> lows
> > occur, I'll keep ratcheting my profit stops lower.
> >
> > Tim
> >
> >
> > At 12:41 PM 4/30/01 -0600, you wrote:
> > >Tim, Good trade. I note that break occurred at 1240 Chicago -
aren't you
> > >leery of entering breakouts which occur during the thinly traded
lunch
> > >period? The locals seem to pretty consistently drive the premium
one way
> or
> > >the other around 12:30 which more often than not results in a
false move.
> > >
> > >Earl
> > >
> > >----- Original Message -----
> > >From: "Timothy Morge" <tmorge@xxxx>
> > >To: <realtraders@xxxx>
> > >Sent: Monday, April 30, 2001 12:11 PM
> > >Subject: [RT] E*Mini S&P update
> > >
> > >
> > > > Good afternoon, RealTraders!
> > > >
> > > > With the strength both the Nasdaq and S&Ps were showing on the
> opening, I
> > > > remained flat--I was leery of this upmove and was not bullish.
> Obviously,
> > > > they have both shown more strength than I thought they would
this
> morning.
> > > >
> > > > But once prices tested 1275 in the S&Ps, I began running a
stop sell
> entry
> > > > at 1269 1/2. I am now short at 1269 1/2 with stops at 1275
3/4 and
> first
> > > > logical target at 1262 1/2, second LPO at 1260.
> > > >
> > > > Best,
> > > >
> > > > Tim Morge
> > >
> > >
> > >To unsubscribe from this group, send an email to:
> > >realtraders-unsubscribe@xxxx
> > >
> > >
> > >
> > >Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
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