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Guy,
Thanks for the info. I'll be watching to see if the bottom of the
Horizontal Channels for the market indices hold. It did look like we may
have gotten a reversal in the techs late this afternoon.
JimG
----- Original Message -----
From: Guy Tann <grt@xxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Monday, August 30, 1999 7:55 PM
Subject: RE: EELN
> JimG
>
> FWIW, but we have just had the shortest ITS on record with our system.
>
> We're back buying everything tonight and on the opening. <G>
>
> It was a good call on the short side, but appears that we're going back
up.
> We have added another component called the 66R. This gives us more
signals
> than the ggg, but appears to enhance our trading profitability. From
1/2/97
> to present the combined SP39 (short term signal) and ggg (Intermediate
Term
> Signal) or 66R has provided us with the following results:
>
> STATISTICS - M39 and ggg/66r
> Total Trades: 85
> # winning trades 73
> Total Points - Winners 2159
> Average Win /Trade 29.58
> # losing trades 12
> Total Points - Losers 231.25
> Average Loss/ Trade 19.27
> Payoff Ratio 1.53
> % winners 85.88%
> # of points 1927.90
>
> I guess that figures out to about 30 trades a year whereas with the SP30
and
> the ggg alone, we average about half that many trades. Well, we got the
ggg
> and the SP39 (and the 66R, for that matter) telling us to reverse, so
we're
> back to the long side. IMHO, this market is acting a little crazy here,
> trying to suck chartists and other position players into the game.
>
> Remember this advice us worth what you paid for it. I'm going to bed as
I'm
> still in pain here, but had to double check Jimmy. Too easy to make a
> mistake.
>
> Regards
>
> Guy
>
>
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]
> On Behalf Of Jim Greening
> Sent: Monday, August 30, 1999 7:58 PM
> To: Metastock
> Subject: EELN
>
> All,
> It looks like Guy's sell signal was right on. First my EELN
> recommendation didn't move up towards my buy stop at all, but instead
> dropped all day and closed at the stop price. Considering that, and
looking
> at the market indices, I'm no longer interested in opening a position in
> EELN. Looking at the indices, it looks like the DJI breakout through the
> top of its Horizontal Channel (HC) a week ago was a false breakout. The
> DJI has pulled back well inside the old HC and today broke out of the
bottom
> of its Short Term Up Trend Channel (STUTC). The NYA, OEX, SPX, and RUT
> joined the DJI by also breaking out of the bottom of their respective
STUTC
> today. That tells me that Guy's signal was right and the market should
drop
> until those indices at least test the bottom of their HC. Therefore, I'm
> also going to close my long market POTCX position tomorrow. I'll stick
with
> my individual positions in ABT, AMKR, DELL, & INTC and base any decisions
on
> them on their individual charts.
>
> JimG
>
>
>
>
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