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

To: Jack of All Trades who wrote (5060)	6/7/2000 1:27:00 AM
From: Patrick Slevin	Read Replies (2) \| Respond to of 7434

I find myself malleable during the day. I had it either up or up in the AM then down in the afternoon. There was a Quad Bottom around 1465.50 early in the morning that troubled me as the day went on. Normally, as the market started to fall I would have loaded up and held looking for that to break....exiting some on the touch of the level and holding the rest to see how the market handled the break. But once that level stayed intact into the afternoon it became something of a target (in my mind, anyway). It was a lapse of judgement on my part not to have played for it. The patterns I refer to are kept pretty simple and really are only three in number. The first would be either a day that was straight up (down) with a subset that possibly has a late reversal, or tail, in the last hour. The second would be V Shaped (A Shaped) again with the reversal (tail) as a subset. The third pattern is rare. It consists of High and Low points at various times during the day. Pain in the neck if you aren't trading like a madman reversing like crazy. In the 2,383 days that I have data for, only 195 days fit this pattern. That's how simple the visual is. Over 90% of the days can be I.D.'d into one of the other two sets.