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Weekly chart attached.
Earl
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
EarlA
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, December 23, 2003 8:21
AM
Subject: Re: [RT] The Market
environment
127% retracement did not hold ... the market appears to be going
parabolic and seasonals are kicking in to boot. My next set of SPX
targets are in 1060-75 area. I took my lumps last week and closed
out all of my shorts, also trimmed back on investment risk generally ...
equities, commodities, and foreign currencies all extremely extended
and bonds appear at intermediate term risk from inflation. I am lightly
trading long side of emini but will not carry through closed globex markets.
Currently sitting on largest cash position I've had since March.
Earl
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Attachment:
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