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Thanks for the narrative and the chart. Wonder if you might describe exactly
what constitutes a J-Hook?
Earl
-----Original Message-----
From: T-BONDTRADER <T-BONDTRADER@xxxxxxx>
To: Omega-list <omega-list@xxxxxxxxxx>
Date: Thursday, October 15, 1998 10:47 AM
Subject: J-Hook on Bonds
>Glenn
>
>Thought you might like to see this.
>
>After my little trip south yesterday, I should have bought the nearby
>support, but didn't. However the sort of third time through attack on
>Yesterday's High came about just as the Big Boys came back from lunch and
it
>was a nice trade to the top. I thought it looked as if it would get to
the
>Day Before Yesterdays' High, instead it was the High of a big bar back in
>September. It always pays to keep 'looking left'. The Boos always
reverse
>on something, but often retrace on nothing. I like that, a nice ring to
>it - must get that into a late proof somewhere!!
>
>That same High was good enough to reverse the market Today, but it is the
>J-Hook after the 7.30am Report which was the money earner for a very low
>risk entry. The best way to do these things is to have a Limit Order just
>under the Target Line. A greedy and unrealistic target would have been R1.
>Yesterday's High and Low are always key over the R and S lines - if only
>because they are for real, whereas the others are estimates, as it were.
>This is why I have them incorporated on the pit pivot system which you will
>get on the disk with the manual.
>
>I have waited until the 9.00 o'clock Report to send this off, in case there
>was any action. They have just taken a few stops out and gone back to
>sleep - not for long of course. The retracement from the Intraday High is
>.618, so it may not make or go much further than the Pivot. We'll see and
>the market will tell us. Then we will do something about it. But it looks
>a range day, which means it probably won't be...
>
>Anon
>
>Bill Eykyn
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