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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Jack Clarke who wrote (8007)	11/15/1997 11:48:00 AM
From: Zeev Hed	Respond to of 18056

Jack: when I do watch the tape (which is rare, but on critcal days I try), I look for a tick of + or - 1000 at least to indicate pending reversal. I do not act just on the excess, when these limits are reached , I wait for the extreme point (wich, of course you never know when it hits), and watch for a retracement of at least 50% of the extreme (let say that the -1000 was followed by a max to -1500, then I wait until the tick reached back at least -750), then I reverse. The same thing when the tick exceeds +1000. Anything in between, I usually "call it" trend continuation. It worked for me a good 70% of the time. I do not use this exclusively, of course but in conjunction with my tea leaves patterns and turnip piles distribution (VBG). Zeev