To: Gersh Avery who wrote (6519 ) 8/7/1999 2:19:00 PM From: MonsieurGonzo Read Replies (1) | Respond to of 11051
Hi Gersh:" you gotta be right enough! " too true, amigo mio! ya gotta not only nail direction but also extent to trade them option thingys consistently well. Hey Gersh, I was thinking about how you (for real, no paper) trade or invest in your spooky fund based on a T+3 timing anticipation. You know, in the game of chess it is said that, "when you get to the point where you can see three moves ahead - you have reached the first 'Chess Master' level". anyhoo, was thinking about your T+3. You know with the candlesticks we often sum together two candles into one, to get a better read on sentiment . And I been playing around with different, intra-day candlestick time slices for indices on quote.com for some time now - which is the same thing as summing together candlesticks to reveal an aggregate sentiment . So I got to poking around this here MetaStock chart thingy I use, and in addition to D aily, W eekly, M onthly time scales, they got this O ther option, so I clicked on it. Turns out that you can take a daily chart, set the time-scale to O ther and select "compression" to some integer from 1 (no change) on up to 2 (classic candlestick sum) as well as 3 , 4... N. So I set it to 2 and that was useful. Then I set it to 3 or, "sum together the last three days, on back to the beginning to the chart". whoa ! T+3 sum is very interesting, Gersh. Of course all the TrendLines and Horizontal Supports and fibonacci levels remain intact, relevant and so forth. But the candlesticks look completely different . Not quite like a weekly 'stick ('weekly' would be T+5 compression when your last observation was a Friday) the T+3 candles seemed much more "regular", "well-defined", perhaps "certain" is the word I'm searching for. Anyway, T+3 day charts look completely different ! I'll try to put one up on the 'net for you to see. -Steve