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It was Simms who pointed it out but I did suggest that an upside breakout
could be strong. I screwed up the whole thing, first missing the spring
reversal entry at 105950 because I was fiddling with a couple of stocks,
then bailed out of a perfectly good entry around 1073 when it corrected
because I was nervous about another reversal. That's what I meant when I
said 3+ weeks away from trading had ruined my market feel.
Earl
----- Original Message -----
From: <Scaletrade@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, October 10, 2001 2:18 PM
Subject: [RT] Re: whipsaws
> I think it was Earl who pointed out the descending triangle on the 15 min
SnP
> chart yesterday, and suggested that if it broke out to the upside, it
could
> be quite impressive. Good call. But I'm wondering if anyone got burned
> trying to make the trade.
>
> First, in the overnight session, the futures traded above the breakout
point,
> then near the opening it dipped below the triangle, then finally it broke
to
> the upside for real. I didn't make the trade, but I'm afraid that by the
> time the true move started, I would have been to whiplashed to jump on.
> Anyone else with similiar feelings? Any thoughts to avoid, or endure?
>
> Larry Brown
>
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