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Recap of S&R for 12/30/99 whether yours or mine.The technique is the issue
and responses will be handled privately.How to use a method is oft times
more important than the specific method of which there are many varaibles.
S&P opened at 1486.6 leaving choice of selling at R2 or waiting for level 3
1489.2.In either case the market closed at 1480.2 and either would have been
OK.
Nasdaq opened at 3778 only a whisker above level 1 R never hitting level 2 R
making it a qualified short for the gutsy.Nasdaq closed at 3730.
The following are my opinions and do your own due diligence.Further posts on
Stock research,Mechanical Trading Systems and Monthly mechanical stock
trading along with options on stocks and commodities are planned for the new
year.Those with no interest in any of these areas may delete or block.
>>The S&P closed at 1480.2 vs. 3730 for the Nasdaq.Numbers for
>>both appear acceptable.
>>By request:
>>S&P
>>
>>Level 3 R=1491.7....S=1468.7.....Drop dead Sell and Buy points.
>>
>>Level 2 R=1486.5....S=1473.9.....Stop loss points or reversal if strong
>>break
>>
>>Level 1 R=1483.3....S=1477.1.....Sell and Buy stop points
>>
>>I believe the ideal opening trading range to be 1477.1 to
>>1486.6.
>>>>Nasdaq
>>>>
>>>>Level 3 R=3802............S=3658......Same descripton.
>>>>
>>>>Level 2 R=3769............S=3691......Ditto
>>>>
>>>>Level 1 R=3750............S=3710......Ditto
>
>>DESCRIPTION:Level 3 are points if reached have a high probabiltity for
>>profit if sold at R or Bought at S. Level 2 are stop loss points if you
>>enter at level 1.They are also breakout points if penetrated.Level 1
>>assuming we open in the range are buy and sell points.If out of the range
>>no trade.
>>
>>John
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