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At 03:34 PM 9/23/99 EDT, Proffittak@xxxxxxx wrote:
>good afternon
>
>Got stoped out of my long with 5.6 points loss
>teches you not to day trade and stay with your position trade
>(short 4 from 1394.65)
>
>HAPPY TRADING
>ben
>p.s
>broke under 200 day m/a on sp bkx and dow
>
RealTraders,
I just covered my short (sold Put), since we are at Fib support
(1298), and I'm off to LA tomorrow..
See attached file for longer-term Fib support levels.
1238 to 1247 area should be good support if we get there....
Monthly trend is down, Weekly trend is down, Daily trend is down.
Short-term oversold. Are we selling rallies?? Hmm??
If any members want to say "Hi", I'll be at the DayTraders Expo,
Saturday & Sunday. Leave a message for me at Joe DiNapoli's
booth (Coast Investment Software Inc). I'll be helping at the
booth.
-Neal.
Attachment Converted: "c:\eudora\attach\sp-9956.gif"
-----------------
Neal on the 'net.
Trade well. Train hard.
http://www.halcyon.com/neal/From ???@??? Thu Sep 23 14:35:52 1999
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Date: Thu, 23 Sep 1999 15:27:54 -0500
From: Steve Walker <Steve@xxxxxxxxxxxx>
To: Steve@xxxxxxxxxxxx, Realtraders@xxxxxxxxxxxx
Subject: Re: Gen: Estimate of current decline - Follow up
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RealTraders:
I have been shown an error in my calculation. The estimate of the low is 625-655 OEX. My puts are working out well. Using a Gann Square of Nine count from SPX low on 10/08/98, I get tomorrow as a turning point low. Expect to sell puts to close around 9:30 CST tomorrow.
Steve
>>> Steve Walker <Steve@xxxxxxxxxxxx> 09/21 4:39 PM >>>
RealTraders:
Here is something I picked up from an Andrews pitchfork crs I took. Sometimes, it is quite accurate.
Look at a daily chart of the OEX. Notice the following alternating pivots..
8/19 low at 684
8/25 high at 725
9/2 low at 685
9/10 high at 715
9/15 low at 685
That is two high pivots and three lows with minimum range of 30 points (715 - 685). For a low projection following the 9/15 pivot, multiply the 30 point range by the number of low piovts (3) to get 90 points. Subtract this from 685 (low pivot) and 715 (high pivot in the range) and you get an estimate of this decline of 595 - 625.
I bot puts at 700. Let's see if the decline reaches this estimate.
Steve
!
!
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