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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (319)	8/30/1999 11:59:00 PM
From: Patrick Slevin	Respond to of 7434

Yeah, he was referring to August 31, 1998 It was the same cycle day in the same cycle number week. Actually, there were a lot of similarities going into that pattern. Camp also pointed out the same date. Hank pointed it out during his August 2nd report. If you think the report from PatternTrading is hard to read let me tell you, the one from Program Trading takes at least 2 to 3 months to get comfortable with but it's also good. In any event, the day became a one way down day, not V/A shaped. August 31st was also one way down. But the flows that he spoke of (patterntrading) were there if you knew what to look for. Some strength around mid morning and then a run up into 12:30 CST with a drop into 1:30. But as he said in the beginning, it easily could turn into a power move straight down. Which is really what it did. I don't know why I didn't hold on for that, I guess I was getting tired or just decided to start protecting profits.....whatever. I'm not usually as sharp in the afternoon. I didn't have a loser but the correct play was to just hit it again on that bounce to the 1340 area and hold on. Some time back I read something from Mark Cook that stressed the importance of never giving back profits....so when I am having a good day I get more guarded (frugal?) as the day winds down I suppose. How did you make out today, I never had a chance to keep up with Systems.