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Oh, Boy Earl,
I guess the issue as I saw it was.
On a 13 min chart look over at 7/5/01 in the afternoon, see that little
congestion, that was the do or die area for the
drop the next day.
The 1231.50 is .3 under that high,
The 1231.50 is a .786 retracement.
A double top at 1231.50 always sell a double top.
An then your own observation is there is no pivot work done between 1218.50
and about 1212. or so.
Think of the pain involved if you bought into this thing. between the open
and 1231.
After re-reading that, it almost seems it was an intuitive statement.
Lastly, an Inside day 4, With a HH, No LL and a higher close
has a range of 1.60 of the prevous day. Thus when I wrote that the range of
the day was no way near that average. So it almost
begs to be sold just on a probability basis..
Don
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, July 19, 2001 3:07 PM
Subject: Re: [RT] Intra-day market activity
> What made you think that it "had" to fill the gap ... good gaps don't get
> filled right away and bad gaps do. From here, that first move down to
1225,
> rally and break of the 1225 low was the first clue that the rally was not
> likely to consolidate and hold at high levels ... I had a daily channel
buy
> signal and was planning on holding for the first position trade I've done
in
> a while but bailed on the weakness and then went short at 1221. Not sure
> where we are going from here but looks like the sellers are still in
> control.
>
> Earl
>
> ----- Original Message -----
> From: "Don Thompson" <detomps@xxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, July 19, 2001 10:36 AM
> Subject: Re: [RT] Intra-day market activity
>
>
> > Personally, It has to fill the gap. All the longs at the open are under
> wa
> > wa.. oh that is painful ....
> > next pivot or R level is 1219.xx. Thats where it should go..
> > Don
>
>
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