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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
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
EarlA
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, December 11, 2003 1:01
PM
Subject: Re: [RT] The Market
environment
Let's see if the 127% retracement cat has 6 lives ... daily cash chart
attached.
Earl
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