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Ira wrote:
"I have not been able to find a timing system that will
stand alone as a trading vehicle. If anyone has, I would be
interested."
Maybe not in the time-frame you are thinking of, but the "sell in
May..." mantra of the UK stockmarket corresponds to the mid-May peak
of a fairly reliable yearly cycle in UK, Japanese and US equity index
markets. Estimates of its amplitude vary from 5% to 10%, but
its timing is fairly reliable.
Wow, it is nice to know there is some residue from my market prediction
days - long gone and good riddance.
Ira also said:
"The first half hour and the last half hour are the floor traders,
market makers
and speciatlists time to make their living. The rest of the day is
usually just
handling the order flow. I have relayed this message many times. The
first
half hour will set up the next trade, not by what it does during that
half hour,
but what it does in relation to the time frame and cycle that you are
trading.
It will be the basis for the next up/down trade."
Two ex-pit traders I know fade the open and go home/to the golf
course/indoor skiing. They make a lot of money, so
there is much to be said for fading the open.
Regards, Ric.
www.traderscalm.com
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