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<DIV><FONT face=Arial size=2>Today's close below the 6/1 DJIA low is a major
signal that the pivot forecast for 9/22 will fail. We are now at .618
retracement of the 6/1 low to 8/24 high, a good place to turn around . If the
market continues to fall tomorrow, 6/24, I will rate this pivot forecast as a
failure and look for a low on 9/28 to 9/30. Generally we can expect market
reversals against the trend to occur later than forecast. Thus if the market
trend is down, I will give the forecast two extra days before calling it a
failure.The potential long entry for 9/22 was a low risk trade since the day's
range was so small and that's why I posted the note. Fortunately market action
did not validate a 9/22 low by exceeing the 9/22 high, as required in my methods
thus I was not caught in a whipsaw trade.</FONT></DIV>
<DIV><FONT face=Arial size=2>Jim</FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
Jim White </DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A
href="mailto:realtraders@xxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxx>realtraders@xxxxxxxxxxxx</A> </DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Wednesday, September 22, 1999 5:25
PM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> DJIA turn</DIV>
<DIV><BR></DIV>
<DIV><FONT face=Arial size=2>For those following my DJIA pivot point forecast,
today, 9/22 was a forecasted turn point. Confirmation of this being a low will
be a close above today's high. The next forecasted turn is 9/28.</FONT></DIV>
<DIV><FONT face=Arial size=2>Jim White<BR>PIVOT Research & Trading
Inc.</FONT></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Thu Sep 23 19:14:25 1999
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Date: Thu, 23 Sep 1999 18:35:59 -0700
To: "Owen Davies" <owen@xxxxxxxxxxxxx>, <realtraders@xxxxxxxxxxxx>
From: Alexander Levitin <alevitin@xxxxxxxx>
Subject: Re: Larry Williams
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Status:
Speaking about Larry Williams:
I just received an invitation from Mr. Williams to attend one of his
seminar. (The cost is $4K per person).
In appreciation for my attending Mr. Williams will:
1. Trade the capital of one million dollars for three days. (Maybe four
days as in one place it says 3 days in another 4 days).
2. Give me 20% of the profit (I am just not clear all 20% to me or the 20%
will be shared by all attended seminar together, but it is natural for me
not to understand as I am not so smart to start with).
3. Last year Mr. Williams made $250K in three days during such seminar.
I can not be taught (found it out over 20+ years of trying to learn from
the market). But to invest 4K and get 20% if $250K or $50K sounds like nice
risk/reword. If I only could figure out, $50K will be all mine or I have to
share it with others? Do I have to be present at the seminar to win or I
could just buy the ticket and $50K would be send to me?
Permanently confused Alex.
At 08:49 PM 9/23/99 -0400, Owen Davies wrote:
>>i stand by my statment
>>if you ask robins for THEIR statment you will see that he was long
>>bonds
>>and had a 660000 margin call
>>he was on a trip and not even home during last 3 days of this.
>>he or robins or his staff wire in the mony
>>as it turnes out the next day bonds were limit up and he mae his
>million
>>(not even needing the 660K
>>(if money was not added they would have close the position
>
>
>It always amazes me how many people can't get this story straight.
>Williams's book about how he made $1 million in a year could just as
>easily have been titled, "How I Made Around $1.6 Million in a Little Over
>Six Months, Blew $600K in a Week, and Decided to Sit Out the Rest of
>the Year." He went on a well-earned vacation, leaving an assistant with
>instructions to bail out if anything went wrong, together with clear
>criteria
>about what circumstances would justify calling it quits. Then, while he
>was out of touch for a few days, the market went against him and his
>aide developed a severe case of deer-in-the-headlights. By the time
>Williams called in, it was all over, save for making the calls to close out
>his trades. Plural, by the way. As I understand it, the bonds were not
>the only thing he had going at the time.
>
>Not that any of this matters. Anyone who's been paying attention knows
>that Williams's trading style accepts losses most of us couldn't stomach.
>A $600K drop from something over $1 million would be a bit much even
>for him, but coming out of it with a megabuck in profits is a worthwhile
>achievement, even if it got hairy toward the end. It certainly meets any
>criteria I'd require for my all-time-great-performance list. I'd like to
>see
>how many of the folks who piss on Williams could match it.
>
>These dump-on-Williams messages always look to me like an advanced
>case of trader's penis-envy.
>
>Owen Davies,
>Who'd love to have six months go by without having this
>rehashed yet again! Or at least have it discussed by people
>who know what they're talking about.
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