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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin!
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To: Jerry Olson who wrote (386)8/31/1999 3:46:00 PM
From: Patrick Slevin  Read Replies (1) of 7434
 
V Shape refers to the "shape" of the market.

If you look at a 5 minute Chart of the SnP from around 10:30 Eastern until now it's somewhat like a V shape.

Actually, it's technically a 3 point day.....High, Low, High.

But it's easier to explain it as V shape. I say 10:30 because typically when looking at patterns you chuck the first 30 minutes or so. It's usually noise from overseas money and traders who take a position and walk away for the rest of the day with a Money Management Stop.

Then, too, you normally throw out the last 30 minutes or so for the same reason. There can be some Large Money skipping around during those times as well, so filtering it out is helpful.
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