July, 1999

For 07/30/99 Friday

Resistance 1353-55 area, a selling bias at open,  we might try to sell one last time for low testing in 30-60 mins after opening (mostly likely), then reverse to long for bounce to 1356-58 then drift lower to test low again. If market has problem taking out this 1355 area, then down side may not be over, we would be on short side again.

For 07/29/99 Thursday $$

(This morning, web hosting had problem.) We were expecting a flat opening and would buy at 1365 with stop 1364,  for target 1373 in 3 hours (if broken... then target 1383-85); and would reverse to short and sell BIG TIME for target of testing 1352. Unfortunately, it opened gap down. We sold @ 1356-57, took 1/2 profit @1353 and 2/2 profit @1350-48. Re-entry of 1354 missed.

For 07/28/99 Wednesday $$

If open flat, we would be on buy side again with a stop around 1361.80 for target 1376-78(after 1366 violation) before end of day. Exact stop level will be available in WarRoom. Better be no more gap opening which might take away 1//2 of our profit potentials. If 1367 can not be violated... it might plunge all the way back to 1352.

For 07/27/1999 Tuesday $$

For next couple of days: trading range 1352-1377. If 1352 holds on Monday globex, we will be on buy side with a stop @ around 1350 for target 1375-1377, then see if a reversal to short is feasible. If 1377 can not be broken, then down side is not over. (Our target hit ! We missed first part 1382-94 due to gap up opening, and re-entered at @1361.50 after 0.75 stop-out... took 1/2 profit at 1366 and 1/2 profit at 1375; was expecting to reverse to short from 76 to 66 at wednesday open...but market did it late afternoon... shame.)

For 07/26/1999 Monday $$

This 1367 will be crucial on sunday's globex. If it holds, market would be choppy range 1367-1361 and keep testing low afternoon; if not, market should start to swing and target 1382-83 before end of tuesday. Better gap up open above 1366-1367. Otherwise, I am going back to short with 1367 stop.

For 07/23/1999 Friday $$

Our target 1363 got hit on thursday, but it was 4 hours earlier than expected in which case Market could keep falling into 1352.50. We are flat with SP now. If open gap down at 135x area, we would buy; if gap up open we would sell for low testing. 3-4 more hours, ready for a bounce, target-- 30 points of the low.

After close: Due to the chat server problem this morning. We missed the short at open. We did not short until 1368-69 area (after stopped-out loss 1.00), covered 1/2 at @1366.5, and 2/2 @1363.50. Having been expecting a bounce, we managed to have a long @1360-1362 area. Total 4 trips (breakeven)... did not make too much progress and end up with a 1/2  long @1362.50. WE MIGHT RESUME OUR SHORT BIAS FOR POSSIBLE TARGET 1333, IF WE DON'T FEEL COMFORTABLE WITH MONDAY'S OPEN.  Have a nice weekend.

For 07/22/1999 Thursday $$

If it opens at 1384.50 area. Stop 1380, we might try buy side for 1393 target in 3 hours after open; then reverse to short for low testing and possible target 1363.80. (1363 stitll valid before weekend). Exact stop level will be available in AM

For 07/21/1999 Wednesday $$

Two trips: (1) ready to buy at open. stop around 1380, buy 1381-1383, target 1407-1410 in 5-6 hours; (2)  then reverse to short. Final decision and exactly stop level and buy level will be available in WarRoom. (1363 still valid !) Today's market was weaker than expected-- stop 1386, we bought @1388, took profit @1393.70; and stop 1388.10, sold 1387, took profit @1384.

For 07/20/1999 Tuesday $$

Trading range 1413-1423. If sp opens at 1422 area and no sign of rallying, we are going to short for target 1403-1406, with stop around 1424.10. (exact stop will be available in the morning). If Monday's low holds, will buy. [We called this top and market plunged today]

For 07/19/1999 Monday $$

Target 1430 got hit earlier than expected. If gap down open, 1420 should be tested and reverse to long for 1429-33. A little topping for profit taking is coming up. [We called this top on last friday]

For 07/16/1999 Friday $$

Target 1420 got hit. If globex 1421.50 holds, ready to short for target testing 1406-1408; then reverse to long. Next week target still 1429-1430. Watch out, a little topping is coming up, BUT dont sell and dont short yet. Until then, any short is for scalping.

For 07/15/1999 Thursday $$

Target 1418-1420 before weekend, or 1429-1430 before next weekend. [Today market hit our target.]

For 07/14/1999 Wednesday $$

Target 1418-1420, then reverse to short for 1395 testing one more time;  1420 before weekend, or 1430 before next weekend. Target 1418-1420, then reverse to short for 1395 testing one more time;  1420 before weekend, or 1430 before next weekend. [Today market did hit our down side target and reversed as expected.We missed the long by 5 minutes.]

For 07/13/1999 Tuesday $$

Market should test 1396-1401. If open higher, sell for scalping and target--testing 1396-1401.50. Get ready to reverse back to long, for target 1433 before weekend, or 1444-48 before month-end. (1433.00 could be a sure trade target) [today market did hit our target.]

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