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just like the dow today @ 10700 :))
Riccardo Ronco
> -----Original Message-----
> From: tradejacker@xxxxxxxxxxxx [mailto:tradejacker@xxxxxxxxxxxx]
> Sent: 30 January 2000 21:56
> To: omega-list@xxxxxxxxxx
> Subject: Re: "Trading With DiNapoli Levels" question.
>
>
> i agree with ya there like it's like cheating!!!! :)))
>
> what i meant by "self-fulfilling" is that the floor and major off-floor
> players know where the key fib levels exist on most timeframes, so, in a
> sense, the floor and big money move price to those
> levels....what's important
> is what happens next at those levels...price is either repelled by a fib
> level (reversal), or price is repelled and then accelerates through that
> level like a knife through hot butter (successful test or bounce followed
> by a failure), or price blows through the level like it doesn't
> exist (stop
> run or bid/offer vacuum). from experience by observing price,
> you can get
> a feeling for what might happen at the fib levels.
>
> of course, this same discussion can be applied to well known pivot points
> as well.
>
> TJ
>
> At Sun, 30 Jan 2000 09:15:50 -0800, Neal Hughes
> <neal@xxxxxxxxxxxxx> wrote:
>
> >Some would disagree that fib analysis is a self-fulfilling prophesy..
> >There are many who believe that the more a certain technique is
> >used (more traders using it) the less likely it will work in the
> markets..
> >There is a conflict there, a trader can't believe both..
> >
> >Any-way, for whatever reason, Fibs work well in all liquid markets!
> >One trader I know said "it's like cheating!"
>
>
>
>
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