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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 (5036)	6/6/2000 3:07:00 PM
From: Patrick Slevin	Respond to of 7434

Okay, the 5/10 P0 would be a wider fork then. As you can see, with the 9:45 EST Low, the 13:25 High, and the current Low the market formed a 3 point or A Shape. That's the general "look" to it. Suspecting the A Shape, one would be looking to Exit the Longs....perhaps with a SAR or just a trailing Stop (mine was at 1472)....and then look to see if the Short side had potential. Which of course it did. Anyway, bailing out of half earlier and tightening the Stop on the balance was in line with playing it as a potential A shape. Pretty basic stuff.