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<DIV><FONT size=2>Has any RT's taken this course advertised in tasc? I
would appreciate any input from those who have actually taken the course.
Have you successfully traded using his methodology and for how long?
Thanks in advance.</FONT></DIV>
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<DIV><FONT size=2>Marc </FONT></DIV></BODY></HTML>
</x-html>From ???@??? Fri Apr 24 07:09:28 1998
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Date: Fri, 24 Apr 1998 00:31:55 -0700
From: Al Taglavore <altag@xxxxxxxxxxxx>
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To: Harley Meyer <meyer@xxxxxxxxxxx>
CC: Metastock list <metastock-list@xxxxxxxxxxxxx>,
Alan Kwong <alankwong@xxxxxxxx>, Blaise Frost <bfrost@xxxxxxxxx>,
darrell nelson <mnfarms@xxxxxxx>, John Richman <e8sarge@xxxxxxx>,
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RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>,
Slimtravel <Slimtravel@xxxxxxx>
Subject: Re: Top ????
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Harley,
There is an article on Reuter's Money Line web site that discusses the
averages and the market's lack of progress. Read it immediately before
I checked my e-mail and read your post. You may be interested in
reading it. It certainly concurs with your observations.
As to your comments on the globex trading, I do quite a bit of this,
and, with the currencies and bond, the trading follows a very definite
pattern as to the time factor. As such, it is possible to get some good
counter trend trades. Some possible reasons for this is that with
futures, many firms must buy or sell based on their program model, not
on the futures market. This could be especially true for European or
Asian insurance companies and/or pension funds.
Last year, I learned from a bond professional that the current condition
of the futures markets had no bearing on many of his clients...a pension
fund requires x number of dollars in futures, x number of dollars in
cash bonds, x number of dollars in a currency based on the dollar value
of their portfolio. Like a S&P index fund, no matter the market, if x
dollars come into the fund on a monday, then stocks have to be bought to
reflect the makeup of the fund to the S&P. I have found, by studying
the time and sales data, that there are certain times of day and night
when the S&P and bonds and currencies will make counter trend moves.
This data is available from the CBOT and CME website.
Al Taglavore
Harley Meyer wrote:
>
> I just wanted to send a quick note.
>
> About a month or so ago when Intel came out with poor earnings I was
> looking at a correction. It didn't happen. So you can shoot the
> messenger but not the method. After that event market breadth snapped
> back into acceptable levels.
>
> Now I am seeing that the New highs - new lows has trended lower on the
> NYSE since March 20th. About a week later the Up/ Down Volume ratio
> began to show slowing momentum. However total volume has picked up.
> Although the final confirmation is a channel break on the DJIA, I do see
> that the exchange is showing some market breadth weakness. Of course
> some news event could turn the broader market higher, but to me the
> possibility of a correction is becoming more and more apparent.
>
> The NASDAQ has a very similar condition but is not as pronounced.
>
> Which leads me too a pet peeve.
>
> I don't know how many of you follow the Forex futures trading for the S
> & P 500, S & P mini and the NASD 100. The overall market will take it's
> cue from the futures trading. My pet peeve is that there can be a small
> number of contracts traded in the overnight markets that can move the
> NASD 100 substantially. Of course when the day session begins they can
> always go in a different direction. But to me over the last month I
> thought it was a bit fishy that when you would expect the futures to be
> trading down they were actually trading up on extremely light volume as
> compared to the day session. It seemed like a very inexpensive way to
> influence the market direction. Just a pet peeve.
>
> Time to hit the sack.
>
> Harley
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