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

To: Tom Trader who wrote (10028)	12/11/1998 8:36:00 AM
From: Patrick Slevin	Read Replies (2) \| Respond to of 44573

I don't have a firm plan yet. It appears I may have bitten off more than I can chew what with Neural Nets and improved daytrading approaches. It all requires a lot of updating and I'm now at the point that I arrive at a day trading plan from 5 approaches; I imagine the day that they are all in total sync I shall be rich and write a book. I embrace the concept that it is not usually smart to sell into weakness. So I intend to try to find THE point where the market appears to have hit a bottom and play it up. I think there will be two such opportunities, either shortly into the day or as the afternoon gets rolling. So if the market sells off hard for a half hour or so I'll get long. If it flounders around I'll catch up on my work and return around noon hour.

To: Tom Trader who wrote (10028)	12/11/1998 8:49:00 AM
From: Patrick Slevin	Read Replies (3) \| Respond to of 44573

Hm, here's a flash. McMillan notes that the S&P Futures Option Ratio is the first of the major ratios to issue a sell signal. He says it was also the first to signal a buy last September. I've never paid attention to it; if it was early in September it may be also early now, he observes. What the heck, did someone e-mail the world my fax number? I just got complimentary subscriptions to Jerry Hagerty's OEX Options Navigator and his S&P Futures Navigator. As if I have time to get confused with more market opinion. Let's see; He says in the OEX he's long 20 DEC 560 puts from 2.25 and wishes to blow them out today at 4.50; so I guess he expects a mid-term bounce. In the Futures letter he is daytrading a sell at the Open so I guess he expects the morning to be down and then he wants to cover so perhaps it's the afternoon he sees as a bounce. There is a lot of information in his stuff; it will take me time to read it all. Like I have plenty of time to spare. I wish these guys would send me a box of fax paper with these reports.