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<FONT face=Arial
size=2>Dimitris,
"Please read attached gif.
It does not look so promising."
No it doesn't Dimitris. I think I'llslit my
wrist. March of 2000, 9/11, and now this. I quit.
"Any further advice
?"
Keep posting in black and white, it's less
offensive.
"Shall I wait
?"
He who hesitates is lost.
"Is it short, medium or
long term buy ?"
Short term buys become long term when they're
losing (check out the length of losers vs. length of winners).
"Do you apply any kind of
stop loss ?"
I don't apply stops in mechanical systems (don't
believe all that you read in overpriced books).
"Or you wait for the next
signal, whenever it comes."
You got it.
"Your trading experience
and responsibility is much appreciated"
Thanks, I think.
And yes, I did read your post and I couldn't
believe you would imply that a descending triangle is a reliable chart pattern
(but, it's tough to argue with the success of this trade). I've read
Edwards and Magee five times, taught Bar Chart Analysis in undergraduate and
graduate schools and have studied charts for thirty years... "don't bet thefarm
on a descending triangle". Now, I wouldn't want anyone to take my word for
it. I'll let John Murphy's research speak: He tested the S&100
stocks with his Chart Pattern Recognition software and found that "descending
triangles" are 52% profitable after a signal As he says: "Only the 100%
objective raw patterns and their accompaninying signals were used to calculate
the results." What a joke! I consider the whole unscientific test a
sham. I'm sure you can support your descending triangle trade with much
better numbers than Murphy. After all, this one's a terrific winner for
you...you must have evidence that this formation is reliable enough to risk
capital on.
Do you consider wise to buy with a basic support
breakout "ante portas"?
Is that Greek or Latin? My favorite Latin quote is: Qui non
intellegit, aut taceat aut discat. I do not understand "support breakout",
I am a mechanical machine that flashes green(buy) and
red(sell).
"Any idea for the new
support/pivot point of ^NDX ?"
Don't ask me....I'm not in the prediction game, I
only monitor momentum and oil the machines.
"Any documented hint
appreciated."
Here's a big HINT:
Of the fifteen trades I closed on 4/17, thirteen
were profitable (remember that post...eleven days ago?). You forgot to
show those in your spreadsheet. The "out of sample" (posted before the
next opening) recommendations, posted at my site since 1/1/00, have produced ,
1,073 trades, of which 810 have been profitable (~75%). These were all
buy-hold-close positions. If short positions were taken during this
horrible time frame...profits and percentages would have been much higher.
So, I don't know exactly what answers you
want from me. But since you are making so much money on this short
position, why don't you fly to Denver and listen to me on June 25th. I'll
be defending my trading approaches at the Market Technicians Association monthly
meeting. They have had Ralph Ampacura, John Murphy and John Bollinger
speak during the last six months. Tough company. As always, I will
let my public track record, my private track records and my extensive research
results speak for themselves.
Dimitris, since you ask so many questions...please
allow me a few: Do you actually trade (using real money in the currency of
your choice)? Do you have fiduciary responsibilities for others?
Would you mind sharing your background?
Take care,
Steve
<A
href="">www.cedarcreektrading.com
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Dimitris
Tsokakis
To: <A
href=""
title=amibroker@xxxxxxxxxxxxxxx>amibroker@xxxxxxxxxxxxxxx
Sent: Saturday, April 27, 2002 2:04
AM
Subject: [amibroker] Re:"ba-buy"
Steve,
Please read attached gif. It does not look so
promissing.
Any further advice ?
Shall I wait ?
Is it short, medium or long term buy
?
Do you apply any kind of stop loss ?
Or you wait for the next signal, whenever it
comes.
Your trading experience and responsibility is
much appreciated.
Thank you in advance for any reply.
Dimitris Tsokakis
PS. Did you read the
<A
href="">http://groups.yahoo.com/group/amibroker/message/15320
and
<A
href="">http://groups.yahoo.com/group/amibroker/message/15143
and
<A
href="">http://groups.yahoo.com/group/amibroker/message/15127
posted by 23/4 to this list ?
Do you consider wise to buy with a basicsupport
breakout "ante portas"?
Any idea for the new support/pivot pointof ^NDX
?
[The question is a bit difficult for me.This is
the reason I wrote at
<A
href="">http://groups.yahoo.com/group/amibroker/message/15127
"I really dont like
it.". Evidence for this new support is a painful headache
]
Any documented hint appreciated.
From: "Steve Karnish" <<A
href="">kernish@xxxx> Date: Wed Apr24,
2002 4:27 pmSubject: "ba-buy"
List,
Seven days ago, my realm of four dozen stocks
triggered an unprecented fifteen "sell signals". This morning,
many of these same stocks have triggered "buy signals" for the opening
bell. This time, thirteen stocks (haven't seen this many buy signals
in a year) are begging to be bought. These recent "correlations" are
telling us something...I just haven't figured out why, suddenly, I am
getting these "lock step" correlations. Anyway, I'm
buying: ADBE, AMAT, ATML, BEAS, CMVT, ERTS, KLAC, MCHP, MDT, MXIM,
NSM, NVLS, TER.
Take care,
Steve Your
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