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Now that your S&P system has shifted long, I suspect you are about to get
chopped again. My weekend analysis of weekly, daily and 30min charts across
(Nyse, Nasdaq, and S&P) suggests: 1) there is not an adequate base for the late
week rally and 2) there has been no accumulation to support further upside
moves. Note that I measure accumulation using an indicator I refer to as NetTick
(Upticks - Downticks) which is built by processing the Time and Sales files
posted nigthly by the CME. I suspect that the rally is part of a corrective move
which will be reversed early in the week.
I also have a market timing system which produces excellent results on the S&P,
however this kind of market is too choppy for it, so I rely on discretionary
trading.
Earl
-----Original Message-----
From: ResearchDepartment@xxxxxxxxxxxxxx <ResearchDepartment@xxxxxxxxxxxxxx>
To: shazlewood@xxxxxxxxxx <shazlewood@xxxxxxxxxx>
Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Saturday, June 06, 1998 8:54 AM
Subject: Re: FUT: SnP Vix reversal - Monday = false
>Stuart I should have but didn't and here is the updated charts, I'm about back
to break even now but
>I have been chopped to death. I have faith in the system though it has been a
consistent money maker
>for me. The emotions I have saved myself from are well worth the chop, I
couldn't participate
>without a fully mechanical system. Some folks are of the chemical makeup to
trade discretionary and
>some are not. I am not and rely completely on computer systems, I think this
self realization that I
>am weak makes me strong as a trader.
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