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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Chip McVickar who wrote (14634)2/3/1999 3:32:00 PM
From: nicewatch  Read Replies (1) of 44573
 
Chip, So your read of this Middle tine is a sell I used it to sell my -daytrade- calls. Had I not been long I might have tried to short it. Other than that, I still own some stocks. This tine is off the 1/29 low and looks like a setup for reversal Yes it does, IMO... only short term though, I'll have to look at my EOD charts to get a feel. What's your read when these things get to one of these junctions I try to use the forks in their proper context (whatever that means <g>), consequently, I used your short term fork, and some other stuff to time a short term option trade. Because it is short term though, I would have do step back a level -maybe hourly or daily, even weekly, to make a major decision... although that's just the way I like to do it, FWIW. As for the daily and weekly... the trend hasn't turned down yet, BWDIK. I'll try to update the SPX charts tonight. Talk to you later Regards, Frank
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