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Hi Tom
Hope this .gif answers the point. I am sending it to RT, as part of the
strand.
The way you mark the chart up before Today starts is half the battle. That
Report was going to cause a bottom somewhere. The odds were shortened
considerably when you looked for the sup/res lines. Then you see the tick
reversal pattern - not to mention the deep downthrust on the 5" chart.
And, if you managed to miss all of that, there was always the retracement to
get in a couple of ticks higher. (They do like to come back and pick up
the stragglers, you know!!)
Now what on earth would RSI, Stochastics or MAs do for you that reading the
tape doesn't.
It's all good fun and very readable - once you have learnt to read, as
clearly you have done.
By the way, the market has been to within a tick of Yesterday's High and
retraced very bullishly. We may get a second Third Time Through - but
probably not until the Big Boys have come back from brunch at around 11.30.
On the other hand, it may come off. The tape will tell us...
But if you know of another indicator... nah, you'd have sent me the .ela
by now!
Regards
Bill
-----Original Message-----
From: Tom Stein <comfut@xxxxxxxxxxxxx>
To: T-BONDTRADER <T-BONDTRADER@xxxxxxx>
Date: Thursday, July 30, 1998 4:14 pm
Subject: Re: Price/Fib/Example
>Hi Bill.........
>
>I see your entry of 02 was a .618 of the days high and low at that
>time(122.08-121.24)...............
>
>Don't you give the market a few ticks....ie: 04 buy stop instead of right
on
>the number?????? I use day-session numbers only......
>
>
>BTW:This is not posted to the group....
>
>
>Tom Stein
>comfut@xxxxxxx
>
>
>
>
Attachment Converted: "c:\eudora\attach\TomSteinTick.gif"
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