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Well here's an interesting discussion. I'd
love to see that argument, and would love to go short after a day long in
sdli. Is sdli in a downmove? Please prove me
wrong. What time frames are you looking at? I'm looking at the
dailies. Thrust up? Yes. Enough bars of thrust? Not
according to Hoyle. However, I see a difference between study of
equities (or other instruments) you are not studying daily and ones you
know well, in terms of their price movements. Truth is that with sdli, all
you have to do is get the right time of day, right Futures, right L2
reading, etc. and you can very handily take a few points off the table without
breaking a sweat. In this case, a strong 382 rt on the
last upmove gave me all I needed to know (plus experience with
the stock). However, I am probably much too much of a momentum or trend
trader to be a proper dlevel student. Yet I would like to learn more,
and hear further arguments against pure momentum plays. To show my massive
ignorance, I even use 382 & 500 retracements (and MACD/Stochastic
combination, detrended oscillator, and VOLUME) on five minute charts during the
day to enter trades, especially on shorts, regardless of the larger trend;
sometimes I don't even look past the 5 minute chart or know a thing
about the overall actions of some stocks; many of them I've never heard of
before, like INFI on Friday. The percentages on
this approach (given futures a the time, s & p trading, L2, gaps,
etc) come out to be very close to 90%, and with very tight stops, the
win/loss ratio is...well, very good.
Please forward your fib study on
sdli! 12 points one day long and forty in a couple of days short sounds
like good money to me.
Also, if I am being a pest in bringing up other
aproaches to trading and combining them with dlevels rather than taking a pure
dlevel approach, please would other members tell me so and I will stop doing
this and only report on more pure dlevel studies or trades I am looking at or
taking.
Max
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Kevin
Bryant
To: <A title=dlevels@xxxxxxxxxxxxxxx
href="mailto:dlevels@xxxxxxxxxxxxxxx";>dlevels@xxxxxxxxxxxxxxx
Sent: Friday, January 26, 2001 10:54
PM
Subject: Re: [dlevels] sdli
Might it be that the same time frame is not being
discussed by all here? A fib argument could be made for a price in the
low 170's in a few days.
Kevin
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did you see that fib bounce on
sdli?
said yesterday I'd take any excuse to enter
long in the am.
sdli gave "plenty of excuses"
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