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

To: Matthew L. Jones who wrote (1267)	11/21/1999 12:18:00 AM
From: Patrick Slevin	Respond to of 7434

<This medium (posting to a thread) is very difficult > My sentiments exactly. Communication is difficult enough without trying to relate a concept through the written word. But no, you never were offensive to me. Something I said rubbed you the wrong way....this is normal for me. People who do not know me well are sometimes put off because frankly I have a cock-eyed way of looking at things. <intraday statistical stuff> Basically, amongst other things, I have a database going back to '91. For each day, there is an entry for what one might consider "normal" stuff, such as DJIA Close \| Low compared to Previous Close \| High Compared to Previous Close Close compared to Previous Close \| Previous Close Compared to 2 Days Prior Sequence of Closes over the past 3 days...such as "Positive, Negative, Positive What sort of week it is, like last week was Expiration, another might be UnEmployment and so on Weekly Change in the DJIA, computed as of Friday's Close How many weeks the DJIA Closed positive in a row, negative in a row... Similar SnP Futures comparisons, plus SnP Gaps. Whether True Gaps were Filled and for how much (Such as, 11/12/99. It Gapped up, then ran down 14.2 Points after closing the True Gap.) Percentages on several things, such as the % move, positive or negative, on the Futures Contract. Events columns, such as FOMC, triple digit DJIA Moves, holidays, how many days the DJIA Closed positive or negative beyond 3, Record High, Record Close Relatively "normal" stuff such as the above, then more esoteric data like What Time was the SnP High, Low? What was the Time of the "Best" High or Low for what was likely to be the "Best" Trade of the day. What sort of a pattern was it? Was it straight up, straight down, was it sort of up into mid-day then down into the Close..... Same parameters on the type of week....was it straight up, straight down, et cetera. ============================================== Taking quaint information such as the above, I can reasonably compare the sort of market we are traveling in to prior time frames. In other words, I can take the type of Weekly Pattern we are in, the past few Daily Patterns and a few other items that might be of interest and query the data for a historical perspective. I might find out that 73% of the time the patterns suggest that the market should see it's low at such and such a time frame and the "Best" trade of the day was to take it Long into mid-day and then tighten Stops or just exit and take a walk. Obviously, it's just a road map. One still has to trade it. But it helps to stabilize my bias. I could see the market Gap ten points, for example, because of news perhaps. But the news usually has little effect on me because no matter where the market Opened I'm still looking for the Long and then getting cautious mid-day because that's the predicted pattern. It sounds screwy, of that I am certain.....but as I mentioned I look at things in a somewhat cock-eyed sort of manner. < the grapevine> It was very nice of whoever said that but I have my bad days, same as the next person. Perhaps I was having one when we got off on the wrong foot. It's hard not to allow your feelings to show up when you are having a rough go of it.