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> From: charles meyer <chmeyer@xxxxxxxx>
> To: GREHERT@xxxxxxx
> Subject: Re: GEN: STOCK MARKET
> Date: Wednesday, January 28, 1998 8:06 PM
>
> Jerry:
>
> This setup is from "Street Smarts" and is a contrarian play on the famous
> Turtle System concieved by Richard Dennis who made many millions of
> dollars. It tends to be profitable when traded over a broad base of com-
> modities because something is usually going on in one of these areas.
>
> It simply buys or sells the breakout above a previous 20 day high or low.
> If the market trades down below or above the previous high or low it is
> considered to be a false breakout. Larry Conners came up with the idea
> of fading the strength or weakness because the Turtle System was plagued
> by large drawdowns and low win percentages.
>
> Charles.
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