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Strategies & Market Trends : Charts With An Attitude; Trading In & Out -- Ignore unavailable to you. Want to Upgrade?

To: Esteban who wrote (4099)	11/26/1997 8:57:00 PM
From: OldHack	Read Replies (2) \| Respond to of 4701

Esteban. Thanks for the update. I like your choice of SPY. I have looked at it a couple of times and it seems more form than substance--just the kind that wants to go down on bad market days. I really like the idea of using any system you deem reliable to forecast next day activity by say 2:00PM EST daily. But if you do, it would appear this would give reasonable opportunity to short on upticks, to avoid gaps, etc. Do you do your analysis of 5 min. and 90 min. charts real-time or after the close? 60 to 70% is an OUTSTANDING percentage. If it holds I'm talking to a now or real quick multimillionaire. Please keep me apprised because, sincerely, I want to join you. Sometimes though statistics can mislead if not lie. For example, the 30 day period you mention could have been coincidental, could have been as well predicted based on the Hang Seng activity, or could have been deviant. It could also be just as you say. I'm sure you have thought of this, but you could dummy trade the AMEX index futures until you are confident of taking the plunge. Glad that first step in the water was comfortable. Now waiting for the second. I can't tell you how much fun it is to watch good, young minds at work. I will be almost insulted if you don't update me on progress now and then. Thanks Esteban, OH