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A special thanks to Clyde Lee for his work in adding mechanical criteria for
pivots and S&R.Further study of that work should be enlightening.
>Guidelines
>for trading S&R are continuing within a protocol.They are not "Guru"
>predictions but ways
>to trade much like a graph.I am under a private obligation not to go into
>detail re. the method but the concept is the important issue regardless how
>you or I do it.Likewise they take about a half hour to calculate and post
>and it is a labor of love.Also I have noted back calculations to produce
>these and I have no way of knowing their accuracy since I do not have the
>time to backcheck them.In the future this disclaimer will be at the end of
>the message.
>
>Recap of S&R for 1/3/2000 whether yours or mine.The technique is the
>issue and once again responses will be handled privately so as not to
>clutter the airways..How to use a method is oft times more important than
>the specific method of which there are many variables.
>S&P opened at 1494.5 and went to 1496.5 leaving only choice of selling at
>R2 of 1492.6.Such being the case a brave hold on the short would have
>brought you to a profitable S3.
>Nasdaq opened at 3870 way above level R3,making the only 2 plays a buy S3
>at 3687 and a hold to the close or a sell at R3 when touched.
>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
>this new year.Those with no interest in any of these areas may delete or
>block.
>
>The S&P closed at 1466.8 vs. 3844 for the Nasdaq.Numbers for both appear
>acceptable given prior range.
>
>
>S&P
>
>Level 3 R=1511.8....S=1421.8.....Drop dead Sell and Buy points.
>
>Level 2 R=1491.4....S=1442.2.....Stop loss points or reversal if
>strong break
>
>Level 1 R=1479.0....S=1454.2.....Sell and Buy stop points
>
>I believe the ideal opening trading range to be 1454.2 to 1491.4
>although.All levels seem feasible.
>
>Nasdaq
>
>Level 3 R=4053............S=3635......Same descripton.
>
>Level 2 R=3958............S=3730......Ditto
>
>Level 1 R=3901............S=3787......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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