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To: ViperChick Secret Agent 006.9 who wrote (9952)12/2/1997 11:29:00 AM
From: Patrick Slevin  Respond to of 17305
 
No, not exactly. I and many others believe the futures lead the cash and I gave a reason why in that post concerning PREM.

When I say it is not necessarily predominant thinking I mean that most people trade without a full concept of the realities of the market.

An example was that many people believe they should average down on losing positions. This thinking is most likely predominant. Is it correct thinking? Absolutely not.



To: ViperChick Secret Agent 006.9 who wrote (9952)12/2/1997 4:53:00 PM
From: Patrick Slevin  Read Replies (1) | Respond to of 17305
 
Okay here's a test. Some of the stuff worked out from the "specific" post.

But now you figure out the supports and resistances for the SP7Z.

To start, the pivot is 976.35

Using yesterday's formulae, what are the 2 supports, 2 resistances?

Use the high as 981.80 and the low as 972.00.


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