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I think about 65% of the time the high or low of the day is in the first
hour of trade
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<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Don
Thompson
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=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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<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Joe Duffy
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=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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