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Kent Rollins wrote:
> The question "Why are you buying in a downtrend?" still implies that he
> knows where the market is going and we don't.
Well, we can only speculate what was really on his mind or wasn't, but I have to
respectfully disagree with your conclusion, and you have perhaps missed the
point of my previous remarks. It's not where one thinks the market is going
from here, but the price patterns the market has just recently demonstrated that
are the observable key--and those are unequivocally bearish.
As for acting on an assumption as to trend, you have demonstrated that fatal
trading flaw all too well with your Rollings wave. I say, Let YOUR buying
begin, and I'll be content for the trend to take me with it until THE MARKET
tells me it's changed its trend--and not the wish fulfillment of the analytical
methods I serve.
But so that you don't disappear altogether from this forum, do us all a favor
and do your buying a little on the light side for a day or two <g>.
and good luck with your decisions....
Scheier
> he knows where the market is going, I'd still like more info.
>
> Here's my market call: as this chart clearly demonstrates, we have bottomed
> and are now beginning a 8 wave uptrend (I use Rollins Waves). The first
> wave up is subject to failure if it doesn't keep going up. And the second
> wave can go below the start of the first wave. If it does, then you have to
> re-label the count. If we get to wave 3, I will explain the rest of the
> count.
>
> Let the buying begin!!!
>
> Kent
>
> -----Original Message-----
> From: scheier <scheier@xxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
> Date: Wednesday, May 10, 2000 6:38 PM
> Subject: Re: Going Long
>
> I had to laugh at your sarcasm and your point is well made. But I think
> Jean
> Jacques' original question is actually a fair one, just poorly worded. If
> he
> had said, "Why are you buying in a downtrend" instead of using that
> debatable
> term `Bear Market', his point would have perhaps been better made.
>
> <snip>
>
> Scheier
>
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