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Agree about not wanting to long from here especially given the way we
rallied right up to a key resistance on the daily chart and then sold
off by 8 points into the close.
The one +ve for the bear camp is that we put in an outside reversal
with an up close that came right off of key support. If you are
still long Alex I would risk an an hourly close below 854.50. If we
rally Thursday morning look to take 50% profits ahead of Wed's highs
and trail a stop on the balance. Longs may have the wind behind them
as we are coming into the end of the month. But as I summarized in a
posting this afternoon we can rally a good deal from here and the
daily chart will still be bearish in my view.
FWIW.
E.
--- In realtraders@xxxxxxxxxxxxxxx, profitok <profitok@xxxx> wrote:
> I would not be long here(unless I was long from 855)then my long
stop will
> be at 859
> if you can get out in the night session , I would,
> (not a trading recommendation)
> Ben
> ----- Original Message -----
> From: "Alex Bell" <alex_bell@xxxx>
> To: "profitok" <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, January 29, 2003 9:21 PM
> Subject: Re: [RT] sp500
>
>
> > Hello Ben,
> >
> > I went long at 860. Stop at 859 that you recommend is only 2
points
> > below todays close. It could be hit tomorrow by any
accidental
> > intraday move or small gap down on open etc. Please clarify -
shall we
> > use this stop at 859 in intraday OR on close only basis? Thanks.
> >
> > Best regards,
> > Alex mailto:alex_bell@x...
> >
> >
> > Thursday, January 30, 2003, 4:49:13 AM, you wrote:
> >
> > p> The perfect stop loss is calling for the following levels
> >
> > p> 881.45 be 100% long
> > p> 867.65 be 50% long
> > p> 863.55 be 25% long
> > p> 859.0 if you are already long there is your stop loss
> > p> se gif stop13003 bellow
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
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