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The rumored very large buyer of call options right before the move didn't
hurt either?
Can anyone verify (not sure if equity or futures).
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, February 14, 2003 5:04 AM
Subject: [RT] Thursday rebond
> Thursday's late day rebound was a good example of target selection. Each
> day there are certain levels that are higher probability targets than
> others. The Day session open is one that anyone who has been trading
> becomes aware of fairly soon. The others not so well known are the three
> Market Profile levels of Value Area low, high and point of control.
> Thursday rebound saw a move up to the Open by the ND and SP. Then both
> backed off for a few 5 minute bars and then tested the Open again
> successfully by moving up to the next level, the Value Area low. The SP
> took several bars on the retest whereas the ND did it within the last bar.
> The ES and NQ had a similar responce in that after finding intraday double
> bottom support at the Low -0.382 extension of Wednesday's 24 hour range
both
> rebounded to the red midpoint(highD(0)+lowD(0))/2 followed a few ticks
> higher to the midnight open(magenta). Another item of note on the ES and
NQ
> is the cross below the midpoint prior to the daysession open. That
redline
> crossing after making a high or low over night can be a clue to the day
> session AM period. As of this early hour, the NQ and ES are both working
> that midpoint line, NQ slightly below and ES slightly above, neither far
> enough away to decisive at this point.
>
> enjoy,
> bobr
>
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>
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>
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