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Adam and Claud,
Wheat's bearish engulfing pattern today signals a test of support is the
cards. I blew all my December 300 calls on the opening and almost fell
over when the floor reported fills at 22 cents. My clients are sending me
candy and kuggerands. For my spec accounts, I went short in the September
contract, on the opening, at 284.00 (purely a mechanical holy grail
position). I know, I'm a real dangerous guy: I've always averaged up and
down (adding to losing positions...what a sinner) and I'm always in the
market (and have been 25 years) either long or short.
I've worked at mechanical systems since 1975. At night, we used to sneak
into a company in Ann Arbor, MI and "borrow" some IBM 360 time. The most
important thing I can offer anyone concerning system development is that if
you rely on the historical data to define your parameters, you're screwed.
I have structured some wonderful systems that show incredible results for
the past year and "pseudo robustness" for the past 3-5 years. I repeat:
designing systems based on historical data best fitting is a sure trip to
the poor house. A successful approach must be invented "outside the box".
There is no perfect oscillator, but many are very good. I've always
customized mine. I insert fib number in the formula and monitor about ten
of them. The one attached to this chart is nothing special (but, it's
super secret and can be purchased for $2,995 plus handling). The brackets
are a variation of what you programmed Adam. Combined they make up a very
solid approach that has extracted a hundred plus pennies from wheat this
year. It does better in a host of other markets, but that's not the point.
I've been preaching sunspots, El Nino, La Nina, and drought for six months
and I'm a big bull when it comes to the grains. Sometimes, it's real hard
to go short...especially if you can read or watch television. The quicker
we move into the low 250's and I get long again...the better.
Adam, again, thanks for your contribution to my systematic approach. Your
unselfish programming efforts affect many people.
Steve Karnish
CCT
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> From: Von Hef <VonHef@xxxxxxxxxxxxx>
> To: MetaStock <metastock@xxxxxxxxxxxxx>
> Subject: Wheat........
> Date: Monday, August 02, 1999 7:09 PM
>
> Look at wheat go!
>
>
>
>
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