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Tom McClellan, son of Sherman and publisher of the "McClellan Market
Report" is one of the few T/A's I know that does not equivocate with
"on the other hand". He calls bottoms and dates, two very dangerous
things to link together, but he is right, or very close, a very
impressive number of times.
A month or so ago he said a short term bottom is due between Dec 8th
and 12th and that there is one more downleg before this period of
consolidation is over. Then he looks for a major bottom Dec 29th to
Jan 12 and a new uptrend should begin and last until June 1998.
Bottoms and Tops are defined as the end of a trend and can either go
sideways awhile or turn and go in the opposite direction. Of course,
he does reserve the right to modify these long range predictions based
on what his Charts tell him.
I have used his predictions to play Nova and Ursa, mostly to good
advantage, in the past so I'll try him again. I even managed to make
a little, very little, in the recent gold debacle with its run up and
then crash. At least I didn't lose anything and got to play the
game. He thinks gold may make a snap back reversal between now and
the end of January, and it will be explosive short lived.
After all you can only hope to improve the odds.
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