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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.03

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Nov 21 4:00 PM EST

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To: HairBall who wrote (12030)	4/26/1999 8:19:00 PM
From: Lee Lichterman III	Read Replies (1) of 99985

>>TA will still work, there will be a last trade for each day for those that want to use end of day analysis. << I have to disagree with this. Price action wil be skewed by small after hours money and volume versus normal big money, high volume. You would almost have to design either two sets of charts or two bars/candles seperating the two sessions. Just like GLOBEX often doesn't give a true direction for the next day. Often GLOBEX reflects foreign market activity instead of our market. If Asia is down hard but things are fine here, S&P futures will be down at night only to bounce up during our day. I would imaging that a two candle system with normal market hours first then right next to it after session activity would work best but haven't had a chance to really think it through much. Hey if we design this, sell it on the internet and then have an IPO we could be billionaires. <ggg> We wouldn't even have to make a profit! Lee EDIT - >>Well I got my normal dossage of telephone calls today, saying how foolish I am for not mortagaging the house right now! << Waterhouse called and asked me why I wasn't using margin also. Apparently I am the only trader they know that doesn't use margin in my piddly little account. Is this a sign of the top?

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