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<DIV>Interesting patterns, however differences in breadth patterns coupled with
my current wave counts (all sessions) suggest a little rally falling short of
1448 followed by one more leg down which should take out the 05Jan low, probably
no lower than 1368. I'm looking for this to happen before 08Feb and if the
breadth models turn up, I will be looking for a very nice rally. A close above
1448 would suggest to me that the correction is over and that a major rally
should follow.</DIV>
<DIV> </DIV>
<DIV>Earl</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>
<A href="mailto:kernish@xxxxxxxxxxxx"; title=kernish@xxxxxxxxxxxx>Steve
Karnish</A> </DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A
href="mailto:realtraders@xxxxxxxxxxxxxxxxxxxxxxxx@metastock.com";
title=realtraders@xxxxxxxxxxxxxxxxxxxxxxxx@metastock.com>realtraders@xxxxxxxxxxxxxxxxxxxxxxxx@metastock.com</A>
</DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Thursday, January 27, 2000 8:17
AM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> [RT] deja vu all over
again?</DIV>
<DIV><BR></DIV>
<DIV><FONT face=Arial size=2>List,</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>The patterns "begged" for comparison. This
was my post to my site last night.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>Steve Karnish<BR>Cedar Creek Trading<BR><A
href="http://www.cedarcreektrading.com";>http://www.cedarcreektrading.com</A></FONT></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Thu Jan 27 08:25:24 2000
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From: CRLeBeau@xxxxxxx
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Date: Thu, 27 Jan 2000 11:14:05 EST
Subject: [RT] Re: Trading 3's
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Status:
In a message dated 1/25/00 11:36:35 PM Pacific Standard Time,
dennis@xxxxxxxxxx writes:
<< For my own style of trading, it works better (proven by backtesting and
real trading) to put all the contracts on at once and exit them all at
the same time. >>
I agree with Dennis. The point of maximum risk is when you enter. If you
enter with 3 positions you should be seeking the maximum return on all three.
Otherwise your system is not operating at its full potential. However if
someone wanted to scale out as a matter of personal preference that's fine.
We all have to find methods of trading that are comfortable for us. This is
often more important than trading the optimum strategy. We should, however,
understand the consequences of our decision to trade that way. In this case
(trading 3s) we would be taking a full measure of risk for less than the full
measure of return.
Chuck
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