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No One can ever seem to guess?? right Nasdaq at 1:50P +10.
Best regards,
AIB
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> From: Jim Greening <JimGinVA@xxxxxxxxxxxxx>
> To: Harley D Meyer <Harley.D.Meyer-2@xxxxxxxxxx>; lissen@xxxxxxxxxx
> Cc: metastock-list@xxxxxxxxxxxxx; randy@xxxxxxxxxxxxxxxx
> Subject: Re: Wolf Wave
> Date: Monday, October 20, 1997 11:07 AM
>
> Harley,
> Thanks for the info. I'm not sure I understand the logic behind
this
> pattern. Do you think that it's just that the stock can't make up it's
mind
> which way to go, but will break out somewhere <G>.
>
> Jim
> -----Original Message-----
> From: Harley Meyer <Harley.D.Meyer-2@xxxxxxxxxx>
> To: lissen@xxxxxxxxxx <lissen@xxxxxxxxxx>
> Cc: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>;
> randy@xxxxxxxxxxxxxxxx <randy@xxxxxxxxxxxxxxxx>
> Date: Sunday, October 19, 1997 11:44 PM
> Subject: Re: Wolf Wave
>
>
> >Lionel,
> >
> >LOL. Anyway
> >here is the original post which I should of sent out. This all that I
know.
> >
> >The person that wrote this was Mark. He tried to explain what the .gif
> shows.
> >It seemed to fit in so well with the trend channels.
> >
> >Harley
> >
> >---------------------------------
> >
> >
> >
> >This is my first post to this forum. As a new member I have been
observing
> >for some time and enjoy the commentary very much. I would like to
submit a
> >trade I am going to enter today, along with the method I used to reach
this
> >decision.
> >In Linda Raschke and Larry Connors book "Street Smarts", there is an
> obscure
> >pattern called a Wolfe Wave which is a series of a high, a low, a higher
> >high, and a lower low. This works out to form a type of triangle
pattern.
> >The stock I have found exhibiting this pattern as of late is
WSTL(Westell
> >Technologies).
> >
> >On 8/26 WSTL closed up 3 points to test recent highs, immediately
falling
> >back to a swing low at 22, closing the day at 22 1/2, this is labeled
point
> >1 on 8/29. At this point I did not know that would be point 1 until the
> >stock then turned up again to 26 on 9/10, which would become point 2, an
> >isolated high. WSTL immediately turned south again to 21 7/8, you
guessed
> >it, point 3, on 09/24. Again, WSTL moved back upwards to 24 7/8 on
10/01,
> >forming point 4. It was at that point that I caught the stock, and
> >identified the Wolfe Wave pattern moving back through the chart. I
> >projected a move down to the 20 area, which would form point 5. Well,
that
> >level was reached on 10/14 exactly as the pattern predicts! Yesterday
> >10/15, the stock moved up sharply to close at
> >21 3/8. The pattern is complete, and we proceed to draw our triangle.
We
> >do that by drawing a trendline from point 1, through point 4, and
another
> >trendline from point 1 again, through point 3. Notice how point 5, the
20
> >level lays exactly on this trendline. From this we can project an
upward
> >move to 24++ in the short term. Let's see how it plays out!
> >
> >I would appreciate feedback on this trade from anyone familiar with this
> >pattern, or other TA's who have an interest in exploring this pattern
> >further. I understand it is very effective intraday with the S&P's, but
I
> >have no experience with it in that arena.
> >
> >respectfully yours
> >
> >Mark
> >Harley Meyer
> >meyer093@xxxxxxxxxx
> >
> >
>
>
>
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