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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Clay M who wrote (1693)	7/26/1998 10:04:00 PM
From: Patrick Slevin	Respond to of 44573

When I think of the first 45 minutes I belive TS is using 45 minutes because it's the first "bracket". I was told one time that the futures pit runs in nine 45 minute brackets ending at 3:15 CT. People are aware of bracket action and generally there is a school of thought to avoid the middle three because of wacky lunch action. Co-incidentally, the "2 o'clock balloon" marks the beginning of the 7th bracket....coming out of the middle three so there may be a correlation there. As you say, over the years the bullish trend has shown markets which can be weak early and breakout later. The recent action of strong opens then failure is indicative of trouble.... Anyway, another factor in the mix is firms like Merrill complete their overseas trades by 10, 10:15; so there is another tidbit to confound and confuse. Personally, I tend to "decide" which way I'm going to play the market and around what time and so I pay particular attention to the hi-lo in the first 45 minutes. But I have not looked at it extensively over long periods of time as you have. Maybe I'm missing something important; but the time frame of my trades is brief enough that the action in the first bracket has never revealed itself (to me) to be of profound importance.