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Re: [RT] Re: 5/11/2001 NASDAQ Turning Point



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Don:
 
Actually the statistics given by LP are 
even better.  Here in his own words:
 
"The Opening Price Principle is this: the 
opening price will be the high or low of that day 85-90 percent of the 
time.  In other words, the price at the opening will be either within 10 
percent  of the high or the low of the day on that particular 
day."
 
Bill
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  ----- Original Message ----- 
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From: 
  Don 
  Thompson 
  To: <A title=realtraders@xxxxxxxxxxxxxxx 
  href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx 
  
  Sent: Friday, May 11, 2001 12:25 AM
  Subject: Re: [RT] Re: 5/11/2001 NASDAQ 
  Turning Point
  
  Joe,
  I was talking to Bobr the other day and he 
  remarked that Larry Pesavanto (sp?) made the observation that the SnP opens 
  70% of the time near the low or the high 
  of the day. 70% is not wow wee odds, but its much 
  better than a coin flip..
  Don Thompson..
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    ----- Original Message ----- 
    <DIV 
    style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From: 
    Joe Duffy 
    
    To: <A 
    title=realtraders@xxxxxxxxxxxxxxx 
    href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx 
    
    Sent: Thursday, May 10, 2001 10:56 
    PM
    Subject: Re: [RT] Re: 5/11/2001 NASDAQ 
    Turning Point
    
    Haytham, your posts IMO at least are excellent. Marty Swartz always had 
    a rule to never day trade short if price was above the 10 day ema, and never 
    day trade long if price was below 10 day ema. Its amazing when you go back 
    and look at trade screw ups, how many times something so simple gets 
    overlooked, and how it can save you a lot of aggravation. 
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