|
PureBytes Links
Trading Reference Links
|
Andrew Nopper wrote:
> Norman, I think we should keep this Fibonacci thing for day trading a
> secret, don't you <g>? Most people won't believe that the E-Mini will
> frequently turn to the tick (let alone believe that you can make money day
> trading) and, frankly, I resent the competition out there for fills at these
> levels <gg>.
>
> Conspiratorially,
>
> Andrew,
I am not worried. I believe that the human species has a built in safety
device against getting in tune with the markets via only about 5% will ever be
able to make any sense and have the discipline to do anything about the markets.
You could show the treasure map to 1,000 people, only 100 would bother to take a
look, only 10 would bother to ask any questions, and maybe only ONE would want
to do whatever work was required to help recover the treasure. That is why I am
not worried to tell you that 10:30, 10:42, & 10:46 AM EDT, on Monday, June 19,
looks like both an interesting window via a cluster of points and that the
resolution should occur near the 10:46 AM point for a short term intra-day
turning point.. Watch for a six to eight dollar move in the E-mini either before
or immediately after this window.
Cheers,
Norman
>
>
> ----- Original Message -----
> From: "nwinski" <nwinski@xxxxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Cc: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Saturday, June 17, 2000 3:07 PM
> Subject: [RT] Re: Market Outlook
>
> > Earl,
> >
> > I recently added the live S&P E-mini quotes and charts. This past
> week, I
> > had some students here who were interested in the intra-day picture. We
> were
> > amazed at how accurate the intra-day aspects were, averaging forecasting
> highs
> > and lows within 5-10 minutes. Fibonacci did a great job of
> > projecting price targets. If this keeps up, I may have to go back to being
> a
> > day trader.
> >
> > Cheers,
> >
> > Norman
> >
> >
> > Earl Adamy wrote:
> >
> > > As the was ending and I surveyed my trading in the currencies, spoo, and
> > > bonds, I realized that the markets just weren't doing what the price
> > > patterns suggested the markets were going to do. When trading, I have no
> > > particular bias long or short, I just try to be where the price patterns
> > > say the market wants to go, but the markets just don't seem to follow
> > > through. Bonds have been profitable for day trading up and down the 5
> > > minute chart but that's about it. Based on private emails I've received,
> > > I'm not the only position trader who has been seeing good setups go
> > > nowhere or break down for the past couple of weeks.
> > >
> > > Bottom line is that I find myself out of tune with the market even as I
> > > do my best to follow its message. As Friday came to a close, it was time
> > > to get flat and take a deeper look at the message which the market is
> > > trying to convey. I may just be out of synch with the market or we may
> > > be seeing some very important fundamental shifts in market
> > > relationships. Among the points I will be reviewing this weekend:
> > >
> > > a) the US$ has declined further and faster than it "should"
> > > b) the S&P and NYSE indexes built an extremely bullish multi-month price
> > > chart but seems unable to follow-through - may signal danger ahead
> > > c) with the exception of energy and a few others, many commodities have
> > > failed to sustain rallies in the face of booming world economies
> > >
> > > I will post a follow-up when I finish my work, however I'd be interested
> > > in seeing the thoughts of others on the list.
> > >
> > > Earl
> >
> >
> >
> >
|