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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Nemer who wrote (19515)3/26/1999 12:28:00 PM
From: Patrick Slevin  Read Replies (1) of 44573
 
Very nice, Nemer.

I knew a fisherman when I was a boy who truly would have enjoyed that.

~~~~~~~~~~~~~~~~~~~~~

I dedicated this entire day to scalps when I saw the way it set up. Only from the Long side though. I did double up a position trade just under 92 but I intend to cut it back if we can close the northerly gap. I don't care for the afternoon much. There may be a brief Long about 2:30 EST but after that I'm out.

The Volatility on those options much be whammin' and jammin'for that to happen. I don't keep up with that stuff any longer. I just checked McMillan and evidently there was nothing prior to today (option-wise) to give any clue.

I hardly ever read his stuff; appears he is reco'ing a Long position in QQQ-DX. Seems his Oscillator just carried over to a Buy Signal. I cannot recall how his oscillator works, I learned it in a seminar about 5 or 6 years ago but I don't recall where it's filed. It's an Advance/Decline system based on "X" days and he assigns it a number, positive or negative. When it crosses -180 and continues further negative (for example) he waits. When it comes back the other way and crosses -180 heading towards positive he goes Long. The Signal just went to -144.50 yesterday. Hence the Long QQQ Calls.Currently he prefers them over the more pricey OEX and faltering Small Cap Indices.

Glancing at the Charts, I'm glad I just decided to do Hit and Run today. It's probably going to be a 15 point range all day closing not far from yesterday's Close. Of course, the fears about Kosovo may temper the Long side late in the day.
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