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Pastimes : The Big Tex House of Coin

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To: Jeff who wrote (16009)	12/28/2000 12:30:01 PM
From: Jeff	Read Replies (3) of 19297

heres a good example looking at the big picture..... the 1-month nasdaq chart...... bigcharts.com note...dec 5th.....the nasdaq was at 2700......ran to 2900....sar hit at 2850......now that was a far off sar hit...... so days 1 and 2 were down.....buy day 2......cause day 3 will likely be up......note.....it was up.....but day 4 was up instead of flat or up a little.....so day 5 was a gamble......since the key to day 5 is being up......once you saw day 5 as flat.....that was a signal something wasn't right.....so its best to sell...... the 3-5-8 rule is just a guide.......and only used on far off sar hits....... you count the day after the run.....if 1-2 are down...and day 3 is up.....then the pattern is in effect and can be used......but if day 1 is down....and 2 up.....don't use it.......or day 1 up...and 2 down.....no good..... btw......you will notice the sar hit on the nasdaq is now sitting at the 2850 area......and since the market has been trending down since september.....the trend won't and can't change till that sar is hit and held......so no sense buying and holding anything with more than a week or two hold in mind.....because we are still in that downtrend channel......

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