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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin!
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To: Tom Trader who wrote (4415)4/14/2000 9:29:00 AM
From: Patrick Slevin  Read Replies (1) of 7434
 
Well, I'm getting there. Although I've developed Posi Systems I rarely trade them. But after looking at the profits they have been racking up I took one Intermediate Term System Long yesterday and got creamed. But only trying it with a mini position, fortunately. However, that system went to Short at 1472.50, I think it was, and I took that signal as well. From a daytrade POV I was pretty hacked off. Sure enough, I think it ran to the low 1480 range a bit later.

Looks good now however. All of the systems I've developed and kept (I threw out inconsistent or unprofitable ones) are Short, including one Bond Model and one ND Model. The others are all SP, varying from 30 minute systems to Daily Systems. The most promising Daily System took it Short on the 11th at 1519.00 on the Close.

From a day trade POV, this gap down is not healthy. Certainly it's worth a shot for the "Close the Gap Trade". But once it gets close to that (if it does) I would expect it to come right back down, probably to close lower than it is right now and probably we'll see the lows of the day late.

We'll have to play it as it comes, of course, but that's my sense of it at the moment.

Before you go back to hibernation, what do you think of the discussion Peter and I have been having about this possible indicator?
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