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I surveyed a list of stocks and was very surprised to see how many just got
buy signals. In many instances the targets for these buys wouldn't void the
down moves but there are a lot of points between here and there. Also if a
real short squeeze starts there could be a great deal of pain out there.
Ira.
----- Original Message -----
From: "EarlA" <earl.a@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, January 09, 2003 3:11 PM
Subject: Re: [RT] Re: Tomorrows pivots
> Speaking of the OEX, Bob, while reviewing my charts this weekend I noted
> that the OEX was the only major index challenging the bear market
trendline
> from the ATH. Today's close (not shown) is once again up against that
> trendline. That should be formidable resistance, and if breached, should
> prove very interesting.
>
> Earl
>
> ----- Original Message -----
> From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, January 09, 2003 3:36 PM
> Subject: Re: [RT] Re: Tomorrows pivots
>
>
> Here is a chart showing the zone probabilities for being reached and being
> support or resistance on Friday providing the OEX opens within zone 4.
Zone
> 4 was picked because the OEX closed in zone6. It was borderline and the
> stats are slightly different if the close was in zone5. Also it was
assumed
> there were no gaps on the Friday open. The stats are from the 1994 book
> "Detecting High Profit Day Trades in the Futures Markets" by JT Jackson.
> There may be a newer book out now with updated stats and the Fibonacci
> Trader Software may be able to update the probabilities as new data
arrives.
> The book has stats for many commodities besides the snp. This has become
of
> interest to me recently because the book "Building Winning Trading
Systems"
> by Pruitt and Hill has some TradeStation code that determines the
> relationship of the opening price and closing price to different zone
> levels. This book did not use the floor trader pivot zones, but might be
> modified to do that. The BWTS book code uses 4 zones based on the High,
> midpoint,and low.
>
> bobr
>
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>
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