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Strategies & Market Trends : Tech Stock Options
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To: Heg Heg who wrote (33072)1/13/1998 8:46:00 PM
From: Patrick Slevin  Read Replies (1) of 58727
 
No, the colors are not available except to lunatics. Obviously you are not a lunatic or you would not ask such a crazy question.

If you were really interested, a similar device is available from Welles Wilder in the Delta Phenomenon. Wilder identifies days with anticipated patterns as being 'blue' days, 'red' days, and so on. I don't know which day Wilder would make 'blue' or whatever....Monday for me was 'red' and today was 'blue'. Red days open near the low or high and close at the opposite end. Therefore my position was that Monday should have been 'bought' at the open and 'sold' at the close.

Of course it would not work perfectly that way every time, just often enough that that was a practical way for me to 'bet'.

As far as today was concerned...the method did what it was supposed to? But the midday motion left no profit for the trader on the short side so it was of no practical help. From my own standpoint I knew going in there was a high potential of a whipsaw for short-side traders and that's what I got. I got whipsawed myself.

Anyway...with the exception of Delta (which is probably not on the web, either) you won't find anything on the web discussing this technique. Viable or not, there is no site I know of that explains it.
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