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>Commentary on S&R from 1/5/99:
>
>The S&P opened at 1408.Had you taken the S1 buy at 1399.8 you would have
>been stopped at 1387.7.Not a good thing.Letting emotions aside it would
>have been noted that 1387 wound up being support and a rentry long would
>have recaptured loss and more as the market rose to 1427 prior to closing
>at 1413.5
>
>The Nasdaq opened at 3540.You would have sold at R1 or 3621 and had a
>chance to exit at least at the close of 3513.
E-minis would have worked best to limit risk.
As a side note,about a month ago I was working on setting up private
postings daily and weekly summaries to the list.I halted that activity not
to seemingly yield to what I viewed as unwararranted abusive posts.Some time
in the future that shall come.
Usual comments are below.
The S&P closed at 1413.5 vs. 3513 for the Nasdaq.Numbers for both
appear acceptable given prior range.
>
>>>S&P
>
>>>Level 3 R=1454,3....S=1372.7.....Drop dead Sell and Buy points.
>>>
>>>Level 2 R=1435.8....S=1391.2.....Stop loss points or reversal if
>>>strong break
>>>
>>>Level 1 R=1424.6....S=1402.4.....Sell and Buy stop points
>>>
>>>I believe the ideal opening trading range to be 1402.4 to 1435.8
>>>although.All levels seem feasible.
>>>
>>>Nasdaq
>>>
>>>Level 3 R=3749............S=3277......Same descripton.
>>>
>>>Level 2 R=3642............S=3384......Ditto
>>>
>>>Level 1 R=3578............S=3448......Ditto
>
>I believe the ideal trading range for opening would be 3448 to 3642.
>>>
>>>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 that range are buy and sell points.If out of the
>>>range
>>>no trade.
>>>
>>>John
>
>P.S.
>
>S&R Guidelines are not "Guru" predictions but rather guidelines to be used
>to compare with your own method or use as an additional indicater.The use
>of
>the concept is more important than the numbers per se.Comments regarding
>proprietary nature due to conflict of interest have previously been stated.
>
>So as not to clutter airways on this topic private comments are suggested
>if
>desired.
>
>
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>
>
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