Tuesday 3 March 2009

Caught out

Well I decided to stop looking at the market around 9 this morning, and get on my bike, as the scales are telling me that stomach bulge is not a trick of the light. I have been trying to evaluate a system from one of the minor trading Gods- John Carter. A friend actually copied out the system which is HOLP and LOHP- high of the low period and low of the high period. This morning on F there were about 5 examples of the HOLP as the market tried to rise(against the prevailing trend) and hit 3675 on cash- which is a bit above the central pivot, but may have some relevance somewhere! So a drop was on the cards- I just didn't see such weakness this morning I thought at least it would do us the courtesy of waiting for the US to open. The drop below the central pivot was a big clue. Hope no-one is suffering from wrong plays.

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