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I has a mass of emails for .gif files last week when I mentioned the J-Hook.
Some could not really see what I was explaining, so at the risk of boring
others, if you can load up 5 min chart of the T-Bonds today (10/19) you will
see a very nice example.
The market opened on the Pivot, dropped down to a major res/sup level before
turning north. It went through the Pivot and then, after a dozen ticks in
the pocket, put in a beautiful J-Hook just under the nearby resistance, to
come off for an 8-tick swing trade south.
Looked at on a larger scale, this is a very small range day, so far,
compared with Yesterday and the previous week. No action for 20 ticks on
the bonds, equals $640 per contact - puts bread on the table without any
serious rush of blood to the head.
The the Spoos kicked in and the Boos have gone to sleep - not for long, you
can bet...
Bill Eykyn
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