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Ken,
When the retracements are running out in the time frame you are looking at
go to the next higher time frame. This will give you a better picture of
whats going on and you'll find the significant nodes and hopefully some
confluence.
Ed
----- Original Message -----
From: "Kenneth Lu" <klutz@xxxxxxxxxx>
To: <dlevels@xxxxxxxxxxx>
Sent: Sunday, December 24, 2000 5:05 AM
Subject: RE: [dlevels] COMPQ Daily
> Hi Ron,
>
> Good to see you're becoming the Fibtrader online expert here.
>
> I'm at the parent's place for two weeks of Christmas vacation and have
been
> subjected to a week of non-stop CNBC during weekdays since my mother hangs
> onto Maria's every last word as investment scripture, but that's another
> story.
>
> I've heard people talking about the Santa Claus rally so much that I'm
> really tempted to take the contrarian view. A few days up into the
> confluence you've identified followed by a retest of our most recent lows.
> Beyond that, who knows, although we do seem to be running out of 5/8
> retracements if the nasdaq drops more than 100 or 200 points below recent
> lows.
>
> Anyone know what to do when you run out of fib retracement support levels
> because price has just gone too low? (i.e. many internet related stocks)
>
> -Ken
>
>
> -----Original Message-----
> From: Ron Nuckles [mailto:rnuckles@xxxxxxxxxxxxx]
> Sent: Sunday, December 24, 2000 1:14 AM
> To: dlevels@xxxxxxxxxxx
> Subject: [dlevels] COMPQ Daily
>
>
> What is your opinion? Is this the begining of the "Santa Claus" rally or
> just an upward retracement.
>
> Thanks,
>
> Ron
>
>
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>
>
>
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>
>
>
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