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To: Joe Waynick who wrote (957)2/18/2001 10:45:40 PM
From: Jon Tara  Read Replies (2) | Respond to of 1001
 
Not much in this market, Joe, LOL!

"What do you do with the pre-market
information you glean from your adaptation of Townsend’s charts? "

Now, back when NASDAQ stocks used to gap-up a lot.... it was useful to know that they were gapping-up.

If you just watched the trades, well, keep in mind that a couple of years ago, there was a lot less pre-market trading than there is today. So, the only pre-opening indicator that you really had were the MM bids/asks.

This method charts those bids/asks, which you wouldn't otherwise see. (You could look at the bid/ask values, but you wouldn't see a graphical chart of the trend.)