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Did anyone get the gifs from Bill
it didnt show up in my email???
thanks
T-BONDTRADER wrote:
> >Great Poem from a great pet/story teller but what do you mean with the
> lines
> >below?
> >
> >:Anyway, with the Bonds and the S&P poised with longedy, legedy dojis and
> >:hang men, to change course, in opposite directions, Monday morning might
> be
> >:a touch more lively than usual.
> >
> >Have you found candlesticks pattern recognition useful or must one use them
> >in combinations with other tools?
>
> * * * * * * * * *
>
> While I, personally, use terms such as "Up-thrust" and "Down-thrust", which
> is what the T-Bonds and S&P made, respectively, on Friday, I used the
> candlestick names as being probably more common. In any time frame they are
> strong reversal signals - but for how long is a different matter. A large
> daily bar thrusting into new territory and making a new contract high, is
> definitely significant. The S&P down thrust went into recent new territory
> and I would expect it to follow through with an up day. My CBOT calendar
> doesn't announce any Reports, Greenspan is not talking, so all looks quiet -
> but if Clinton decides he needs more diversions in the Middle East, the
> markets might take a different view. Who cares? I day trade. The market
> will open and tell us what it is going to do...
>
> Where the Spoo guys have an advantage is in watching the Boos for the first
> hour. If they are down and going down (which is favourite at this stage),
> the S&P on Globex will already have been trading up and the stock market
> likely to open that way. After that watch the Bonds, they lead... in
> the opposite direction!
>
> Friday was a marvellous Bond Day - up the hill for a thousand and down the
> hill for another thousand. An 18 tick gap opening to a new contract High,
> you gotta buy... If the initial bearish retracement took you out and you
> went on and sold the double top, you'd only have lost a couple of ticks -
> but the 'through on the third' would have sent you flying, with two
> excellent places for adding to the position. The big reversal at the top
> (with heavy tick volume) sent you down the hill with a pocket full of tin.
> The aggressive trader would even have found another spot to add to his/her
> position.
>
> Up-thrusts are excellent for T-Bond day traders, because you get double the
> movement in the same distance. And they're very good predictors for
> position traders.
>
> I attach a .gif file, which I hope will help you to see the action. For
> those on the list who can't get it, I will have it in my manual, as it is
> such a good example... The whole chart was one which could be read with
> foresight and, because it is not a crazy volatile instrument like the S&P,
> it is eminently tradable, with any slippage to your advantage, rather than
> the reverse. While the Spoos can really only be traded with electronic
> orders direct to the pit , when the hardware is working (and failure must
> give a few people kittens, on occasions!) if that means relying on the
> internet from here, where I have overhead cable, forget it, I say, forget
> it! In any case, highly volatile markets are all so much stress, high
> margins and the rest, but good luck to those who think they've cracked it.
> A slow and sure Up-Thrust on the T-Bonds is more to my liking, for a living.
>
> Anyway, on Monday, you could look to sell the Bonds (depending on other
> factors, such as the overnight on Globex, any gap opening, etc) but really
> one should not prejudice one's thinking and rely on what the market is
> telling you at the time. Remember, all the time you are only looking to
> identify the trend, make it your friend, and wave goodbye at the end!
> (That'll be in the manual!!)
>
> Bill Eykyn
>
> Picture Attachments:
>
> ----------------------------------------------------------------------------
> ----
>
> File: Profitable Up-Thrust (1).gif
>
> Picture Attachments:
>
> ----------------------------------------------------------------------------
> ----
>
> File: Profitable Up-Thrust (2) (2).gif
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