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Realtraders,
Two days ago (10/7/97), I wrote a post titled, "MKT: AMOSS Signal &
Symmetry 10/7/97", in which I agreed with Ron McEwan's forecast for a short
lived down turn, and in my post I gave my symmetrical interpretations as to
where I expect the market find support. Subsequently, the market did
pullback and on a short term basis, we NOW HAVE AN EARLY ENTRY BUY SIGNAL,
in the SP Z7 (I do not know if Ron's work concurs with this new analysis).
Attached is a 15 Min chart of the SP Z7 and in it you will see that our
present decline (yesterday and today) has resulted in a magnitude decline
of 23.25 points or 2325 basis points. This decline falls within the
original wave structure as presented in my post of 10/7/97. (Actually, I
just remembered that in that post I used the S&P Cash index and here I am
using the futures... not to worry, the relationship are extremely similar).
Anyhow, in the futures, the original Wave A-B measured 26.75 points and
this current decline (Wave E-F) measures 23.25 points. Thus a symmetrical
match and an early entry buy signal is now given for the SP Z7.
Further, if you take a look at the Wave C-D decline which occurred on
9/22/97-9/25/97, you will see a decline of 23.50 points from high to low...
Pretty darn close to the current decline of 23.25.
Finally, your protective stop will be placed at 32.10 (26.75 X 20%
(leeway rule) = 5.35 + 26.75 = 32.10) from the 10/3/97 high of 992.25.
Therefore, if you subtract 32.10 from 992.25 you get a level of 960.15 on
the SP Z7. Thus any declines below this level would induce a sale of your
new long positions. If this should occur, please reread the post of
10/7/97 to find my analysis for the next larger symmetrical wave structure.
Hope this helps,
John Boggio
Attachment Converted: "c:\eudora\attach\sysp1009.gif"
For recent commentary and more informations regarding SymWave, please go to:
Commentary: http://www.realtraders.com/boggio/disc7_toc.htm
Info regarding SymWave: http://www.realtraders.com/boggio/boggiobio.htm
Thank you.From ???@??? Thu Oct 09 08:58:20 1997
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Date: Thu, 9 Oct 1997 08:28:45 -0700
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From: "Kovacs, Ross R" <KOVACSRR@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: FW: Omni trader software
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Status:
IMHO:
Omnitrader 3.0 was a real dog; I totally eliminated from my disk.
Omnitrader 3.1 is now out (for about 2 weeks). It is infinitely
better.
As a TA systems tool, it's nothing special. There are no whiz bang
systems or indicators.
However, it is very valuable for the most overlooked area of TA: money
management.
My testing of OT 3.1 has found the following strengths-
1. It allows you test many types entry and exit stops.
2. It automates a lot of work. It is quite feasible to screen
thousands of stocks with this program. Combine that with TA of
industry groups and you'll improve your decisions.
3. It has two modes of operation that are unique: a game mode and a
lab mode. The game mode allows you to paper trade on back data a
single tradeable without knowing its name. The lab mode allows you to
paper trade on back data a portfolio of tradeables using all of OTs
tools. Both modes are quite useful to beginners. I still use both
modes when I have a losing streak; for me, paper trading during a
losing streak helps me to regain my confidence.
Ross
----------
From: MrWallSt97@xxxxxxx[SMTP:MrWallSt97@xxxxxxx]
Sent: Wednesday, October 08, 1997 9:35 AM
To: Visavis@xxxxxxx; realtraders@xxxxxxxxxxxxxx
Subject: Re: Omni trader software
does anyone have any comments on Omnitrader TA software??
thanks
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