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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: SE who wrote (43487)	1/23/2001 3:06:19 PM
From: Jack of All Trades	Read Replies (3) \| Respond to of 44573

My hourly stuff is saying we are near term top. Either today or in the first 3hrs tomorrow.

To: SE who wrote (43487)	1/23/2001 3:07:39 PM
From: Chip McVickar	Respond to of 44573

Yes, I'm like you waiting for the short. I guess we might as well have been long waiting for the short. Been a lot happier. Players could gun this into the close.. I've been off the mark since after the new year and it's pissing me off

To: SE who wrote (43487)	1/23/2001 8:38:41 PM
From: SE	Read Replies (3) \| Respond to of 44573

I found two days that I liked best. One day we opened at a low, bounced to 9:50, and dropped to 12:00. At that point we bounced again to 13:15 and proceeded to chop down to new LOD at 15:30. The day was in essence, a one way down day. The other day chopped at the open, set a low at 10:15, a high at 11:20 a low at 15:05 and bounced hard to 16:05. Bottom line though today is that I found two different flows of the day. The first flowed like this: High 9:36 (9:30-9:50) Low 11:35 (11:00-12:00) High 13:33 (12:35-14:50) OUCH! Low 16:00 (15:30-16:15) The other flowed like this: Low 10:05 (9:45-10:10) High 10:50 (10:30-11:20) Low 12:55 (11:20-15:00) OUCH! High 15:26 (14:45-16:05) Low 16:01 (15:45-16:15) The majority of the patterns show a one way down type day or a V shaped day. It all depends on the moves between the points. Even the day that set the low at 10:15, had a high at 10:00. So both days I like had a high around 10:00. It is just that the second day bounced to a new marginal high at 11:20 before the sell really began. So if the sell off is really underway early, I will look to exit around noon with a re-short at about 13:15 for the move to the low of the day. If the sell off is choppy and not going anywhere I will look to hold it all the way to 15:00 as it should get moving in earnst at about 11:20. If the above does not appear to be working, then we will likely have a grind up later in the day and I will look for a long mid-day, between 11:00 and 13:00.