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Such a distribution with a "bulge" at the bottom
and a long tail above is characteristic of short covering that occurs after a
few days of selling. Tails of that nature that facilitate runaway trading
are also attributed to longer term buyers entering the fray. The High Low
range did span the range of the last three days. Such days in my book
would normally be followed by a 1/3rd retracement back within the tail or to
maybe 50% about the 1085 level since that is the upper side of the Activity Bar
box. Depending on the first hour tomorrow of seeking "value" or volume,
there could be a repeat midday to late afternoon. It felt so good
Thursday, there might be an attempt at a repeat performance.
pure speculation,
bobr
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Lee Morris
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, October 25, 2001 7:29
PM
Subject: RE: [RT] General - mkt profile
poem
what
does this mean that the bulk of the volume was from sellers instead of
buyers???????? and if so what does this project....
<FONT face=Tahoma
size=2>-----Original Message-----From: BobR
[mailto:bobrabcd@xxxxxxxxxxxxx]Sent: Thursday, October 25, 2001
10:13 PMTo: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxxSubject:
[RT] General - mkt profile poemHere is a poem found
in the April 27, 1988 Vol2, #8 of "The Profile Report"by Dalton Capital
MGMT, Inc. "Tail" in the poem refers to the tail on anSNP market
profile. In this case its a TS Activity Price Distribution
Bar.Todays SNP action was extraordinary in terms of price
distribution."IF I ONLY HAD A TAILA Trader's Lament(Sung to
the tune of "If I only had a Brain," from "The Wizard of Oz,"preferably
in the key of C)I'd begin to trust my reason,In trend or trading
season.My trades would seldom fail.I'd have all the needed
structure.no worries of bankrupture.If I only had a
tail.I'd have faith in time transitions,No more delayed
positions.Trade locale never stale.No rejection
information,Just this once, some confirmation.If I only had a
tail.Picture me, and my S&P,What a winning combo we could
be.Long potential glares at me with pride,But, can I buy?
No - my hands are tied.I could calculate my ten lots,At all my
fav'rite hotspots.Or pick out my new Jag.I'd let structure
build beside me ...Market time and logic guide me ...If
that tail would only wag."To unsubscribe from this
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