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Strategies & Market Trends : RealTick III

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To: Eric P who wrote (166)	1/9/2001 4:29:56 PM
From: davealex	Read Replies (1) of 311

Eric, I called Townsend to get to the bottom of this. They said the stop is triggered by the print, but that in the instant before it triggers it, the software checks to see whether the print is "in the realm" of a reasonable sale. He would not say what the "realm" was. Therefore irgs not marked as such are not supposed to trigger the stop if they are close. This still doesn't sound right to me. It also brings up the question of why Terra Nova chose to broadcast a message on their system to everyone telling them that unmarked irgs were coming through and could trigger your ARCA stops. You'd think they'd know how their own software works. Maybe what they really meant was that umarked irgs (a whole slew of them, not just a couple) would spike the charts for seconds at a time (unlike one irg which will spike it and drop right back down instantly) and thereby cause market participants to start lifting thinking it was a true spike (like what happened when the Fed cut last week). I dunno. Sheesh. Now I really don't know who to believe. Dave

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