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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (29861)	8/10/1999 8:26:00 AM
From: bearshark	Read Replies (1) \| Respond to of 44573

Chip: You are right. There was a timing difference between one set of data I keep and the chart patterns. That threw everything off and the strong buy I saw turned into a strong sell within a few days. (Of course, this could be the beginning of something really different from the past several years.) When everything happens at the same time, there is a good opportunity for an important move. In this case, it happened at different times. Take a look back at my post. I was waiting for the INDU to return to its apex. We are there now and I believe we are reaching the potential for a bottom shortly. So the pattern is intact but my other things are still seeking a bottom. That bottom could be near the end of next week. So this apex might hold and the other data I keep will point to this numerical point in the INDU as the bottom. If we have a selling climax between now and 8/19 to 8/23, there is an excellent opportunity for a good move up. Of course, that selling climax would probably result in a breakdown from the apex. The only safe way that I know to play these moves is to wait for them to develop and begin their trend. I may start acquiring a small position in anticipation of a move but I will not get serious until it has developed. I will happily give up the first 20 and last 20 percent of any move to safely capture the middle 60 percent. I am too old and wise to lead the charge.