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The Duke of York, he had ten thousand men..... remember the nursery rhyme?
It is the name I gave to a market which rises to a nice peak and then descends to the bottom again. Money up, money down. A nice way to make it. Conversely, if you look at today's chart, you will see that the market went down (to within a tick of my target) then reversed and is now back to almost where it started. Personally, I have taken my profit on the return trip at yesterday's high - but it may go higher, or stall or come off. But half a Big Point down and half one up, is as good a day for me as I can expect and I rarely push to the limit. It is what I call a $1,000 day - and a day when your stop was never under threat. Nice...
We might even end up with a long legged Doji and if we get a big down day tomorrow....???
But if it is a big up day, then Ben is still very much in the money - and it may be a nice day for yours truly. Who knows. The day will tell...
Bill Eykyn
----- Original Message -----
From: "Mike" <mtg1021@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Thursday, December 07, 2000 6:20 PM
Subject: Re: [RT] J-Hook on bonds
> what is a Duke of York????
>
> > t-bondtrader wrote:
> >
> > Ben et al,
> >
> > Missed my profit stop by a tick, but the DS told me to exit, so came
> > out at ^04 with a good pocket full of tin from yesterday's high and am
> > now long with you, but measuring the retracement. Missing the target
> > by a tick cost me five getting out, but that is now also in my pocket
> > and if we reach ^15, then I am long all the way home - and we could
> > end up with a Big Point in total. Glad your stop was not hit and you
> > should shortly be back in the black and on track. Anyway, I think the
> > J-Hook is out of the window and we could end up with a most profitable
> > reverse Duke of York instead. The ever changing market...
> >
> > As ever we'll see, when the day is over...
> >
> >
> >
> > Bill Eykyn
> >
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