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Hi Mitch 'n 'll
My understanding of the rule, when explained to my by Larry Williams, was
that it only worked on buying the low if it traded back to the low. I have
often looked to see if it works the other way round, but have not come
across it - yet!
Today (just!) was an Oops trade on the Bonds and if someone would like to go
and liven up the Bond pit, perhaps by MOC you might break-even. But with
the low of the day 121^10 and the high of the day 121^17 who cares about
yesterday's low at 121^15.
Technically, there is time for the double bottom on the intraday low to
mature into something - and, under our new contrarian conditions it is
driving the Spoo down (or has the Spoo going down been driving the Boos
up?!!!) but the day has been a big yawn, really...
Roll on Friday and Unemployment - but don't bet on it!!
Bill
-----Original Message-----
From: Tullman, Mitch <MitchT@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, June 03, 1998 6:36 pm
Subject: williams spu oops
>Hi,
>
>yesterday there was talk of Larry Williams Spu OOPs trade
>....if open<yest low and we rally to that low then buy that low....
>
>my question.s...does this occur often?
> does the sell w/ same logic work?
> does it work w/ other instruments?
>
>Thanks in advance, Mitch
>
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