Adam, it is a relatively simple technique. During lunch, a lot of Mosis, spend their time watching the tape. And I find that during bearish periods, these "lunch timers" buy, since it is also the time when many "professionalls" rest their eyes from watching the tape, you get a movement which is counter the prevailing trend, if the prevailing trend is down, you get a movement up and vice versa. There are other daily patterns to watch, but none has such a high correlation (I checked it about last year and it was more than 65% correlation). So, between 11:00 and 12:00, I will watch for a sign that Mosis entered the market the market, or that "Prof" exited, and jump in for the lunch tactics. Events of the day often change the entry by plus minus half an hour. I usually stay to around 1:30 to 2:30, once again, depending on the day's volatility. Some times I make few trips in one day .
Zeev |
