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Strategies & Market Trends : Tech Stock Options

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To: Kevin who wrote (29139)11/25/1997 5:15:00 PM
From: Leland Charon  Read Replies (1) of 58727
 
Kevin,

I really appreciated you sharing the pivot point information with us. I have been observing your trades using the pivot points and am impressed. I am able to see the same information from my Bloomburg at work. I would like to pose a few questions if you wouldn't mind?

A signal is only generated when both the pivot and/or the 1st support or resistance level is broken as well, is this correct? I have been looking at using this system for trading high volume stocks on an intraday basis as this is how I make my living. I sit in front of a level II screen all day and buy and sell all kinds of stuff. I have paper traded the SPYS using your index system with great results. I am hoping that using pivot points on stocks (obtained from the Bloomburg) will help me capture the majority of a trend for the day. I have about 10 or so stocks that I trade on a daily basis and have the ability to short these stocks as well.

Have you ever looked at using pivot points on equities on an intra-day basis? Can you think of anything that might help "fine tune" this little system? I am looking to take profits of 1/2 point or more on 2000 shares of stock. I have been testing this for about 3 weeks now. Just wondered if you had anything that you could add. If anyone else would like to chime in please feel free to.

Thank you,

Leland
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