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Haytham,
Could you please explain how you determine if time
and price are balanced at a potential turning point.
Jim
<BLOCKQUOTE
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=H.Albizem@xxxxxxxxxxxxxxxx
href="mailto:H.Albizem@xxxxxxxxxxxxxxxx";>Haytham Albizem
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>Realtraders
Sent: Thursday, June 07, 2001 6:38
PM
Subject: [RT] RE:BEAS
Hi GK,
You asked me earlier today "Haytham, I
assume you are sq rooting from the 5-22 high for BEAS. I am curious to know,
would you not want to sq rt from the 5-30 low ?"
In fact, I sq root 5-30 and that should have
answer your question directly, but I wanted to say more so I waited until the
evening to send this message.
I have posted on 6/3/200 message
# 2200 stating my analysis of BEAS : I expected retracement to be
180 degree based on the previous behavior of the stock and in fact I had a
short position in BEAS opened 5/29/2001 with target 180 degree retracement
which will be around 30 as I stated in a follow up post.
on 6/5/2001(I was watching 6/4/2001 +/- 1 trading
day as turning point) the trend change to up, I covered my short with a
minimum profit of ~70 cent per share and went long, I re-analyzed my
calculation to find out what happen, this is what I found:
I have used increment of 180 degree as resistance
level(based on previous history of the stock)----I should have used smaller
increment of 45 degree(0.25) and watch for signs of reversal at each level if
the time is balanced or it is turning point. If I used that then the square
root of the high 5/22/2001(42.75) minus 0.75 (increment of 0.25) then resquare
you will have 33.50, the actual low 33.54 :-)
Now if you take 5/30/2001 low 33.54 then square
root then add 0.50(increment of 0.25) then resquare you will have resistance
level at 39.58, now look what happen when the price reached that level on
6/6/2001 using candlestick 60 min bar and volume, you will see Doji bar at
open with high volume indicating resistance level then you will see war
between bulls and bears in the subsequent bars until this morning when the
bulls won the battle and I have alerted the list ahead of this
advancement.
I hop above explain what was my thinking process,
I could not explain what I want to say during the daytime.
regards,
haythamTo
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