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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 (5053)	6/6/2000 4:39:00 PM
From: Gersh Avery	Read Replies (2) \| Respond to of 7434

And it looks kinda like we had that "tail" Patrick was talking about .. Is that supposed to mean a probable up day tomorrow?

To: Chip McVickar who wrote (5053)	6/6/2000 11:28:00 PM
From: Patrick Slevin	Respond to of 7434

<the 5/10 forks upper tine remains dominant for tomorrow.> I think you must be speaking of the 5/16 P0 Fork, the one sloping negatively. Here's something that may be interesting. About 6 months ago I set up a "Great Fork", for lack of a better term. I looked at it just now. It's P0 is at 4/14/97, with the cross at P1 = 7/17/98 and P2 = 10/8/98 It's Middle Tine comes in around 1479.50; it was pierced on 5/16 and 6/2, but both days the market retreated....closing right on the tine. I was paying attention to it both times, as I recall. But I did not trade off the graphic at all. Heck, it just took me several minutes to go back far enough to find out where I started the fork. I have another one I started in 1994. God only knows when I found the time to create that one. But it's fairly wide at this point.....It's top tine is at 1498, the middle at 1363.50 Looking at that one just now, I see how the count is created to targets. It's obvious that the count is set up with the number of times the price "hits" either side of the channel (providing the fork is valid, which really does not mean anything to me now. Just seeing how the count probably works is enough gratification). So if this fork were correct the price has hit the lower channel around 4/14, then the upper around 4/28, then the lower again about 5/19, Now if this works anything like a horizontal count does, moving through the upper tine would give us a target of 2 * (spread between the channel) + the price at the lower tine for the first target. Does this sound anything like the way you would compute a price target off the fork? That's the way a horizontal channel would work, so it looks possible. At least to me, anyway. Rats. I have a lesser fork on the same chart that has it's P0 around the beginning of December. It slopes negatively. But I cannot determine where the exact points are at the moment because that machine just went into a nightly maintenance mode. Takes it about 40 minutes to complete. I have a new machine on order with a Dual Processor that should chop that time down, but for now I'm stuck. But yes, the pattern became an "A" Shape. The tine could have been the tip off. I'll have to keep an eye on that in the future. Thanks. I have to find you an earlier post from this morning about this machine that is on order. I think it comes with racing stripes and an ice jacket. EDIT This post, check the two links. I hopped it up a tad, larger drive, Dual Processor....stuff like dat dere. Message 13834886