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Was expecting bounce on Friday ... very oversold plus last trading day of
month when funds like to mark-up the portfolio. Was shooting for long
trade in SP while maintaining my short in ND 100. Was stopped out of SP attempts
a couple of times ... great day for the ND short. I'll be watching early/mid
week for another rally attempt. With the SP relatively weak to ND, I will likely
continue to hold the ND shorts while trading the long side of SP. 40% of my ND
shorts are basis June and 60% basis Sept so I'm looking for a major decline into
fall.
Earl
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
pzetlin
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Friday, April 30, 2004 6:09
PM
Subject: [RT] Re: Delta notes from
yesterday's commentary
Earl,What time frame are you using for a
bounce?--- In <A
href="">realtraders@xxxxxxxxxxxxxxx,
"EarlA" <earl.a@x...> wrote:> I've
been short ND 100 futures for a couple of weeks now with average cost at
1485+- and still short. Simple ABC swing targets on daily from the January
high (NDX) and March high (SPX) projects to SPX at 1056+- and NDX at 1316.
I'm looking to trade some SP 500 futures long for a bounce
today.
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