Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Chip McVickar who wrote (18736)	3/17/1999 4:33:00 PM
From: SE	Respond to of 44573

Actually I did not short till a bit later. I got distracted, got skinny at 1311 S&P and took it off a bit later at 12.75. Did not like the look of it at the time. Now....should have (my two favorite words) been short at 1315.00, which I would not have been so concerned about.....so anyway, the fork. Upon an actual redraw, the bounce high to 1303.61 at 14:28 hits the middle tine of the fork and down we went. Where the heck was I? :) The fork itself was the following: HIGH of 3/16 at about 3 pm. LOW of 3/17 at about 11:45 am with the middle tine drawn from the Low on 3/11 at about 14:30 pm. The way I am learning this is five point pivots. Each intermediate term move is about five pivots in length. They are typically labeled point 0 (the starting point) through point 5. Sometimes there are seven pivots, sometimes 9 (sounds like EWave with alternate reads!), and I think the fork I drew and labeled a 3,4,5 could also be labeled a 5,6,7. The 5th data point has slight liberties taken as it is not the high. The high occurred on 3/16 in the morning. However, the differential is so slight that I chose the later data point as the correct one to draw from. Anyway the fork worked...I didn't. -Scott