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It is certainly not the one I used.
Bobh wrote:
> That's great but doesn't help Bruce much nor answer his question.
>
> I don't believe there is anything mysterious about 1174 on the S&P futures.
> If you look at a longer term cash chart and go back in the middle April
> timeframe you will see a little double bottom at 1167. This area also
> corresponds to a larger double bottom on the NDX, and was the last higher
> low put in before the last not-so-surprise rate cut. (current fair value is
> around 6.5 pts).
>
> Add to this the last range the S&P traded in 1240/1205 (cash & 35 pts) which
> we just broke out of - subtract 35 from 1205 and you get 1170 which is
> pretty close to the 1167 number mentioned above. Viola! Magic (insert
> sarcasm here).
>
> This is just one way to come up with the 1174 area but certainly not the
> only one.
>
> Hope this helps.
>
> Seeking no credit,
>
> Bobh
> ----- Original Message -----
> From: "Norman Winski" <nwinski@xxxxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, July 12, 2001 12:16 PM
> Subject: Re: [RT] S&P Moment of Truth
>
> > Bruce,
> >
> > What about me? I posted a chart on July 7 that showed a projection of
> 1169
> > on the cash S&P. The Cash S&P went less than $1 through my projection. You
> > may want to note that the subject heading, "S&P Moment of Truth" was
> started
> > by me with my July 7 post.
> >
> > Slightedly,
> >
> > Norman
> >
> > ----- Original Message -----
> > From: "Bruce Campbell" <bcampbell37211@xxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Thursday, July 12, 2001 8:27 AM
> > Subject: Re: [RT] S&P Moment of Truth
> >
> >
> > > Great call Ira! 1174 was right on the money for S&P
> > > July 11. Care to let us know how you derived that
> > > number or at least what method you used?
> > >
> > >
> > > --- Ira Tunik <irat@xxxxxxxxx> wrote:
> > > > Norman:
> > > >
> > > > I have support at 1174, which is close enough to the
> > > > 1169 to be
> > > > reasonable. I also have a target for this move down
> > > > of 1016. I have
> > > > been going over the charts of several stocks and
> > > > things look bleak
> > > > there. At least the ones that I have been looking
> > > > at. A couple of big
> > > > caps moving higher could put a halt to the index
> > > > slide, but allow a lot
> > > > of other stocks to slip into oblivion. As you know
> > > > I am not a strong
> > > > believer in Astro, but know that often it is right
> > > > on the money. We
> > > > shall see this time. Ira.
> > > >
> > >
> > >
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