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<DIV><FONT color=#000000>I took a look(meaning that I made a temporary Indicator
and plotted it on a T-Bond chart) at the Momentum Oscillator % as listed below.
Interesting pattern, does anyone have experience on how they actually use this
indicator. It doesn't oscillate above and below 0 but rather is between 0 and 1
unless that is you subtract .50 from the result. It's pretty ragged to show
momentum IMHO.</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000>Brent<BR>-----Original Message-----<BR>From: Joe
Frabosilio <joe6964@xxxxxxxx><BR>To:
RealTraders Discussion Group <<A
href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>><BR>Date:
Friday, March 19, 1999 7:54 PM<BR>Subject: Re: Pivot trades</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000><BR>>Hi Ray,<BR>><BR>>This formula is from
Bridge News:<BR>><BR>>Pivot Point (P) = (H+L+C) / 3<BR>>R1= (2 * P) -
L<BR>>S1= (2 *P) - H<BR>>R2= P + (R1 - S1)<BR>>S2 = P - (R1 -
S1)<BR>><BR>>Momentum Osc:<BR>><BR>>(H - O) + (C -
L)<BR>>------------------ =
Momentum Oscillator %<BR>>2 *(H - L)<BR>><BR>>Neal T. Weintraub, wrote
Tricks of the Floor Trader, his formula is a<BR>>little different. Check your
local library for the book.<BR>><BR>>Yes, you can program this into
Metastock program.<BR>><BR>>TradeWell,<BR>>Joe
Frabosilio<BR>><BR>><BR>>RAY RAFFURTY
wrote:<BR>><BR>>> Part 1.1 Type:
Plain Text
(text/plain)<BR>>>
Encoding: quoted-printable<BR>><BR>></FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000></FONT> </DIV></BODY></HTML>
</x-html>From ???@??? Sat Mar 20 12:37:03 1999
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Date: Sat, 20 Mar 1999 14:16:59 -0600
Reply-To: staylor@xxxxxxx
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From: Stewart Taylor <staylor@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Floor Trader Pivot Points
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Bill:
I don't think its appropriate for you to constantly attack Bob,
particularly just after he posts something that others find useful and
helpful to the list. Frankly, I ve been watching Bobs letter over the last
couple of weeks and found it to be potentially useful. ADDITIONALLY: I have
found some of the statements that you have made about what does and doesn't
work in bonds go counter to my own experience and approach. That your
approach is different than Bob's (or mine) doesn't make yours any better or
any worse, just different.
Frankly, the cost of a subscription to Bobs letter seems extremely modest
and even I (live and breath and owe my entire livelihood to the bonds) have
managed to garner a couple of ideas from it. And not once, has the letter
arrived in my e-mail telling me how I should have traded, after the market
has already moved.
As for calling Bob a leech, and implying that all other vendors are leeches
and scumbags and so on and so forth... it strikes me that the pot is
calling the kettle black..... you are a vendor (as am I). Trying to hold
yourself out to be the newbies only friend and assuming the mantle of
higher purpose constitutes a seriously flawed argument. If your motivations
were entirely altruistic you would either be giving your manual away or
charging a very nominal fee for it. The fact that you charge puts right in
the same category as the rest of us vendors.
Actually, now that I have had time to think about it a little: I resented
the hell out of the characterizations of all fax services that you made
last week. I care deeply how my customers do and how their trading is
going... and I know a lot of good vendors who also care about how their
customers are doing. I don't dispute the fact that there are some vendors
who are real scumbags (by the way, I don't put either Bill E. or Bob H.
into this category) .... but seeing one vendor (who frankly has contributed
little to the list since I've been on it) run all the other vendors (some
of whom have contributed a great deal) down rubs me the wrong way.
By the way, I have been a bond trader for 17 years and do extensive
consultation work for many of the top institutions in America. I think Im
very qualified to say what is crap and what is not when it comes to bonds.
FRANKLY: From everything that I have garnered from watching the lists and
our private e-mails, I think that Bills approach likely has merit (although
I have not examined it in any detail). The techniques appear to be based on
classic tape reading techniques with Bills own twists. I understand that
the manual is pretty well done and laid out and I have few doubts that
there is value in it (If Bill is still talking to me after this I might
even order one for myself at some point). BUT: I also think that Bobs
letter also has merit. MY ADVICE: Let your product stand on its own two
feet.
Anyway, this is my first, last and only word on the subject. If either
Bill or Bob want to discuss things with me privately... fine. Call or e-mail.
Stewart.
>As Bob should know very well, the market is just not that accommodating.
>You cannot be that cavalier and say "wouldn't worry about adding this extra
>level of complexity" because either it is an essential ingredient with
>regard to the working of the market or it isn't. If the Pit works in a
>particular fashion - which indeed it does - and you are simply ignoring it
>until "your level of proficiency improves", you are very likely to be
>history before you apply the knowledge.
>
>It is a free world and Bob can do what he likes with the service he is now
>selling to the members garnered from this list, as of Monday. But it is
>just this sort of attitude from those who attempt to leech money off those
>trying to learn, that was a powerful motivation for me to write a complete,
>one-off manual. That way people learn as part of a total budget cost.
>
>The Pit Pivot system has to be understood and used properly, along with
>other basic and fundamental points. It is vital knowledge. It is one good
>reason that I provide a free computer disk, with the manual, with it all on
>it. It is not a 'come-on', like some free leaflet, to get you plugged
>into an on-going subscription.
>
>It is the weekly, monthly and quarterly subs for follow-me services which
>gnaw away at a trader's sinews, while he is still trying to grasp what is
>going on, that becomes a real killer. As for keeping essential knowledge
>back until... that only puts more money in one pocket. Either learn to
>trade a proper discretionary method or buy a proven computer system, if
>that is preferred. But for heavens sake learn to trade for yourself,
>rather than being reliant on a daily fax sheet to keep you going - in the
>end there will only be one winner and that is the provider.
>
>
>
>Bill Eykyn
>www.dbceuro.com/bille.htm
>
>
>
>
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>
>
Stewart Taylor
Taylor Fixed Income Outlook
Voice: 501-219-9774
Fax: 501-228-0963
E-Mail: staylor@xxxxxxx
Web Site: http://www.cei.net/~staylor/
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