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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin!
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To: Brister who wrote (5912)7/17/2000 8:00:00 PM
From: Patrick Slevin  Read Replies (1) of 7434
 
One way to watch is to throw it onto a 5 minute chart and track it as it runs.

10 AM the PREM dropped and the Futures sold into 10:15

2:45 the PREM dropped and the SP moved lower until it bounced and found a High at 3:35

It's not perfect; it's just a signal. I would say it's more reliable when you see it is on the high end of the range much of the day then drops quickly or vice versa. In other words, if you were long much of the day and the PREM suddenly started fluctuating between 16.50 and 13.72 as it did around 2 and later it may be prudent to start to look for a bailout point.

That's pretty much the way it was taught to me, anyway. You tend to look for anomalies in the way it's "spiking", for lack of a better word. As usual, you would tend to look at more indicators in concert but that's the way I would look at PREM. Actually today there were not many times that I could convince myself that a program had hit, now that I look at it tonight. Not large programs, anyway.
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