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Strategies & Market Trends : Technical Analysis- Indicators & Systems -- Ignore unavailable to you. Want to Upgrade?

To: shasta23 who wrote (3151)	5/7/1998 4:16:00 AM
From: Temple Williams	Respond to of 3325

The Spike and Strike G-Trade: This is a trade I have developed, based on the overnight Globex concealment that I often see in the marketplace (the "G" in the title stands for Globex). It's new and I have just started to test it in battle. The birth of a trading strategy is loaded with danger. It back tests well, but paper trading isn't the real world. So ... you don't necessarily want the kids to try this at home. This trade is based on the effect that Globex trading exerts on my S&P Ewave counts. The one-word answer is "concealment." Overall, the effect of Globex is minimal. It's normally a lightly-traded session if you compare it to the "real" market day. It produces, between 4:30 pm (EST) and 9:15 am (EST), a mere fraction of the day session. In fact, there's usually more Spoos action in the first 5 minutes of day trading than occur throughout the Globex session. Nevertheless ... concealment is the watchword. Globex can gobble up a few waves and never show them in the daytrading charts (or reveal them only as a gap). In my EWave charts, I often put a "G" preceeding a number or letter ... like "G-5" or "G-V" ... this expresses my opinion that a Globex Gulp has concealed some waves, and the number or letter following the "G" is the legitimate count. To see the trade, go here: skansearch.com