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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Patrick Slevin who wrote (8962)11/24/1998 9:22:00 AM
From: SE  Read Replies (1) of 44573
 
I agree with your analysis of the TICK and extreme levels. I think used alone you can get killed, but used in conjunction with other things extreme levels can give you clues as to direction.

The thing we noticed yesterday was that although the TICK got negative and stayed negative, the SPOO never sold off to a degree that would equal a "normal" sell-off for a TICK that negative for that period of time. It was odd and definitely a key to me not going short. It is little things like that that did not add up yesterday to a good short. The only "good" shorting opportunity was missed by me as I was on the phone and after further review, even that was not that great a short. The price action confirmed the short, but the TICK action at that point was suspect.

Anyway, I use the TICK a great deal as a confirmation tool to what I think the market will do short term. When it doesn't line up I am very hesitant to enter the trade. But when it "acts" right the clues usually tell the tale.....
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