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Hello KungFuTrader,
I suggested this recently, last week I think. Someone informed me I
was wrong. Of course, my lying eyes were seeing a 6 pt SP range for
the previous 5 hours.
Since then I see the market has picked up intra-day volatility a bit
and is somewhat more "orderly", less spastic. Opening "gaps" have
been pretty common, esp last week during earnings announcement time.
My adaptation, partially successful, has been to trade more opening
gambits than I normally do. Many days are virtually over for
intra-day trading by 10:30--11:00 AM ET. Also, even tho its imperfect,
I am generally helped by Linda Raschke's rule of thumb that trending
days are followed by narrow range days followed by trending days. I
went in to today expecting (with an open mind to the contrary) that
today would be narrow, nearly untradable.
An interesting question is: what is going on in the market today?
narrow range, decent volume compared to last few days, ticks
consistently positive, decent AD breadth. oscillator and 5 day TRIN
bearish divergence over last few days. Breakout to downside later
this PM or tomorrow?
Best regards,
Jim Johnson mailto:jejohn@xxxxxxxxxxx
--
Thursday, October 24, 2002, 12:51:30 PM, you wrote:
K> List,
K> Is it just me or is the market dead lately? All volatility seems to
K> be happening overnight, and then does nothing during the during the day.
K> -kft
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