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It is a day that is the narrowest day of range reletive to the previous 4
days. I just realized that it is only
that. I think I implied that it was not only that but an inside day as
well, so. It could be a tighter query.
so it should be a NR4 for narrowest range relative to the previous 4 days.
Don
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, July 19, 2001 9:40 PM
Subject: Re: [RT] Intra-day market activity
> Don,
>
> For clarification, what the definition of an IR4?
>
> Earl
>
> ----- Original Message -----
> From: "Don Thompson" <detomps@xxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, July 19, 2001 4:53 PM
> Subject: Re: [RT] Intra-day market activity
>
>
> > Earl.
> >
> > I did a recent study on IR4 days which yesterday was one. Inside Range 4
> > days
> > One interesting statistic is:
> > On a day that is a HH, NO lower low and an UP close (an assumption when
> swan
> > diving in deep voo doo, doo doo near the close)
> > is that these days close about 71% of the range of the day above the
low.
> > This is a dangerous trade, although at the Pivot, one did see a double
> > bottom and it went up. Also the close
> > was run over triggering hopeful longs stops... The stop off of the
pivot,
> is
> > two points risk. No, I didn't take it. Still working out the stop on
such
> > trades.
> >
> > Getting run over then allows the second scenario to play out.. "OK" its
> > going lower and the day will make a HH and a LL!!!!!
> > the range for this is about 2.28 of the prevous day. so there is still
> some
> > make up room, statistically speaking if you get creamed for two point
stop
> > on the pivot buy. Because this day if it closes up will close up strong
> > like the above. If its going to really close lower it will close on
> average
> > about .23 above the low.
> >
> > Hope this helps.. It's going to enter my trade book.
> >
> > don
> >
> >
> > ----- Original Message -----
> > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Thursday, July 19, 2001 4:53 PM
> > Subject: Re: [RT] Intra-day market activity
> >
> >
> > > Interesting, thanks. My initial cut was that the SP's stubborn refusal
> to
> > > break late yesterday was a bullish sign and the upside breakout
> confirmed
> > > this. I expected resistance at the 1232 area for the same reason you
> > > mention, however I expected more of a flag than a full blown
retracement
> > ...
> > > the overall setup appeared conducive to thinking in terms of a
position
> > > trade and adding to position during consolidation. Fortunately, the
> price
> > > action convinced me otherwise. I sat out the final rally ... these
spike
> > > rallies from deep (78%) retracements are dangerous.
> > >
> > > Earl
> > >
> > > ----- Original Message -----
> > > From: "Don Thompson" <detomps@xxxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Thursday, July 19, 2001 1:48 PM
> > > Subject: Re: [RT] Intra-day market activity
> > >
> > >
> > > > Oh, Boy Earl,
> > > > I guess the issue as I saw it was.
> > > > On a 13 min chart look over at 7/5/01 in the afternoon, see that
> little
> > > > congestion, that was the do or die area for the
> > > > drop the next day.
> > > > The 1231.50 is .3 under that high,
> > > > The 1231.50 is a .786 retracement.
> > > > A double top at 1231.50 always sell a double top.
> > > > An then your own observation is there is no pivot work done between
> > > 1218.50
> > > > and about 1212. or so.
> > > > Think of the pain involved if you bought into this thing. between
the
> > > open
> > > > and 1231.
> > > >
> > > > After re-reading that, it almost seems it was an intuitive
statement.
> > > > Lastly, an Inside day 4, With a HH, No LL and a higher close
> > > > has a range of 1.60 of the prevous day. Thus when I wrote that the
> range
> > > of
> > > > the day was no way near that average. So it almost
> > > > begs to be sold just on a probability basis..
> > > >
> > > > Don
> > > >
> > > >
> > > > ----- Original Message -----
> > > > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > Sent: Thursday, July 19, 2001 3:07 PM
> > > > Subject: Re: [RT] Intra-day market activity
> > > >
> > > >
> > > > > What made you think that it "had" to fill the gap ... good gaps
> don't
> > > get
> > > > > filled right away and bad gaps do. From here, that first move down
> to
> > > > 1225,
> > > > > rally and break of the 1225 low was the first clue that the rally
> was
> > > not
> > > > > likely to consolidate and hold at high levels ... I had a daily
> > channel
> > > > buy
> > > > > signal and was planning on holding for the first position trade
I've
> > > done
> > > > in
> > > > > a while but bailed on the weakness and then went short at 1221.
Not
> > sure
> > > > > where we are going from here but looks like the sellers are still
in
> > > > > control.
> > > > >
> > > > > Earl
> > > > >
> > > > > ----- Original Message -----
> > > > > From: "Don Thompson" <detomps@xxxxxxxxxxx>
> > > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > > Sent: Thursday, July 19, 2001 10:36 AM
> > > > > Subject: Re: [RT] Intra-day market activity
> > > > >
> > > > >
> > > > > > Personally, It has to fill the gap. All the longs at the open
are
> > > under
> > > > > wa
> > > > > > wa.. oh that is painful ....
> > > > > > next pivot or R level is 1219.xx. Thats where it should go..
> > > > > > Don
> > > > >
> > > > >
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