John Manasco wrote:
For Steve Karnish
I've been using your FibCMO to trade options on the QQQ for some time now and just wanted to say it's doing great. I put the buy line at -50 and it has been deadly accurate generating buy signals. The top line has been kinda iffy on generating sell signals but I'm working on refining that too. Went long Apr 206 calls yesterday and closed half at 216 for a good profit. The other half are now pretty cheap so I'll ride them for awhile.
Thanks again for a great indicator.
PS: Tomorrow is the annual St. Patty's day pub crawl and the aircraft carrier George Washington just pulled in and will be dumping 3500 sailors on thestreets. Bet most of them will be green by nightfall too!
[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Kenneth Adams
Sent: Friday, March 17, 2000 11:54 AM
Subject: Re: FibCMO
What is a FibCMO? Please and thanks. Ken
From: "Bob Jagow" <bjagow@xxxxxxx>
Subject: RE: FibCMO
Date: Fri, 17 Mar 2000 13:00:39 -0800
It's the composite CMO discussed in Chandre's book [see p110+] Chandre showed that the average of 3 CMOs approximates a volatility-based CMO; he suggested periods of 5,10,20. Steve's FibCMO uses 3,5,8 [among others?] and optimized buy/sell levels. I've pasted my MS version below.
CMO1:=num1/(den1 + .00001);
CMO2:=num2/(den2 + .00001);
CMO3:=num3/(den3 + .00001);
100*(CMO1 + CMO2 + CMO3)/3; -20; 60;
· To: <metastock@xxxxxxxxxxxxx>
· Subject: RE: FibCMO
· From: "Bob Jagow" <bjagow@xxxxxxx>
· Date: Tue, 4 Apr 2000 23:04:52 -0700
· Importance: Normal
· In-Reply-To: <20000405041056.47084.qmail@xxxxxxxxxxx>
· Reply-To: metastock@xxxxxxxxxxxxx
· Sender: owner-metastock@xxxxxxxxxxxxx
Looks like the fibs figured in Steve's terrific AMAT call today.
That is, the 8/13/21 CMO went from -17.5 to +4.3 today and the 3/5/8 from -71.6 to +2.0.
FWIW I decided ROC was just plain ugly and switched to Ref [pasted below].