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Bill,
Worked out for both of us it appears, I have been selling rallies and
accordingly short the futures into yesterday and bought puts on the fed rumor
today, covering at the neckline 103-20. So I played it from the short side also
(actually thinking this was a wave C of an ABC corrective pattern),
despite the "volume" on the right shoulder. I am still not sure if this is minor
4 of Wave 3 or Wave 4 yet (the 5/35 oscillator in AGET still well above 0). A
perfect swing takes it to 103-01 area, but with PPI tomorrow, taking the $$ off
the table. We could be setting up for a nice "news reversal trade" also
tomorrow?
My reason for passing along the volume observation from
someone I respect, was to get feedback not only from you but others. The
discussion that followed was informative as things normally are on this
list.
Nice trade!
don ewers
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
dbisny
To: <A title=realtraders@xxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxx";>realtraders@xxxxxxxxxxx
Sent: Thursday, January 11, 2001 11:08
AM
Subject: Re: [RT] Re: H&S on the
Bonds
Bill,
Take it easy! You're too thin-skinned (especially to be a
profitable trader). IMHO, Earl is about the most helpful and knowledgeable on
this list; however, you aren't too far behind. Best Wishes. BTW, I see
your countrymen have fallen for Hillary, a record million $$ book advance!
Another BTW, Earl is an extremely valuable contributor to
the QCharts list, of which I may no longer be a member because it is screwing
up trading today.
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=t-bondtrader@xxxxxxxxxxxx
href="mailto:t-bondtrader@xxxxxxxxxxxx";>t-bondtrader
To: <A title=realtraders@xxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxx";>realtraders@xxxxxxxxxxx
Sent: Thursday, January 11, 2001 4:25
AM
Subject: Re: [RT] Re: H&S on the
Bonds
Thanks Prosper! We all know that Earl is expert
on so many instruments and many aspects of trading, it is a wonder he has so
much time to devote to this list. As you say, I pointed out a pattern
which is worth noting and may lead to a short term trade - everyone knows
that I day trade and the information is presented on that basis.
Of course it is not a proper, full blown H&S - anyone can see that - so
his comments are fatuous. The very last thing I or anyone else
needs is lecture by Earl on any pattern, particularly if it is coming from
other people's experience, rather than his own. Useful, constructive
comments such as those made by Steven Poser are of course in a different
class and clearly come from a successful trader, based on experience.
As with all information presented by the market, it must be used
with care and in relation to a lot of other aspects. It is always
important to take an holistic view, but he early reporting of patterns and
their potential could hardly be classified as misinformation.
Those rather more experienced than Earl will know that very often these
mini, imperfect H&S formations lead to something worthwhile. To
discard them because they are not out of the text books he likes to quote is
not helpful to new traders or anyone else. Bill Eykyn
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