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1: 2's can be double, or even triple, running corrections....happening very
often in 2 waves.
----- Original Message -----
From: "Rajesh" <rajesh@xxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Friday, April 07, 2000 10:58 AM
Subject: Re: Mentorspeak
> Simon that was half the message.
>
> Maybe for you if you see someone on CNBC you are more likely to take him
> seriously. Are you? One of my friends appeared on CNBC, India (elliot
> analysis). I know him personally and am also his client (I buy data from
> him),If he is marketed to a billion people thru the idot box does that
give his
> words more weightage? I believe my mentor is a better analyst then him
> anyday.They know each other.
>
> I think most on the list are traders who would scalp you for 1/256. I
believe
> the list may have no real use for EW analysis. Most out here probably
press the
> Refresh button and want to see a profit. So I have learnt.
>
> I believe I waste your precious time sending out "junk" to you.
>
> Canute : He was labelled canute by someone on this list. I dont recall
who.
> Whoever labelled him Canute had to swollow his pride : When : (attaching
some
> old extract)
>
> Posted before the bell (many on the list have the copy)
>
> " The trendline drawn through 7878 and 8328 is holding. However, the
> pattern that is forming does not look impulsive. It is possible
> that the market is doing a 1-2, 1-2, 1-2, i.e. making the first and
> second waves of lesser and lesser degrees. This normally leads to
> a blow-off. You have to have supreme confidence in your count to
> go through this period. The market cannot put off indefinitely the
> explosive movement that MUST take place in an extended wave. The
> above mentioned trendline is also steep and too close for comfort.
> My opinion is that the market must take off decisively today or
> latest by tomorrow. It must pierce the all time high of 9367 without
> any resistence whatsoever - as though the high was of no importance
> at all."
>
> ":
>
>
> Sat, 26 Sep 1998 14:07:50 -0500
> I'm only explaining to you patterns as
> and when the need arises. I never discuss the Wave Principle with
> anybody, either because they apply counts in an arbitrary manner and
> are unable to explain the reason they are giving a particular count
> or because most people who bet large amounts in the market just
> cannot be bothered with such a complex topic. They expect you to be
> right all the time whereas in reality the Principle is flexible and
> if you are a keen observer of the charts and apply all the rules without
>
> any emotion, the Wave Theory helps you to immediately get back on to an
> alternative count overruling your ego. An egoist by nature will never
> be able to digest the Wave Theory because he can never admit that he
> read things wrong. Always looking for someone to blame and who else but
>
> Ralph Elliot who in my opinion was a true genius."
> Mentorspeak"
>
> "Sept 25, 1998,
>
>
> Subject to:
> 1. My analysis being correct
> 2. The upward 4th wave ended at 8182
> We have to now revise the max fall of the Dow to 7396. In my opinion,
> if the 5th wave downward has indeed begun, it will fail, i.e. it will
> not go below it's previous bottom of 7400. It sort of gells with the
> overall scenario of my count.
>
> I am unable to do precision analyses due to the lack of data. I do
> not like bar charts for a variety of reasons. I like a single point
> data for the entire day. This single point data can be arrived at in
> a number of ways.
> (a) For individual scrips, the average traded price of the day gives
> a good single point data, i.e. total traded value divided by the
> total number of shares traded. However, this is difficult for
> the Dow (though not impossible). It is necessary go give
> weightage though to the Dow. As the Dow itself has different
> weightages for the different scrips that it comprises, a tick by
> tick weight has to be obtained and then all the ticks of the day
> averaged out. I don't know if any such data is available.
> (b) Alternatively, if all the ticks of the day are added up and then
> divided by the number of ticks in the day, we can get a fairly
> good single data point for the day.
> (c) The last resort would be to take the high and low and divide by 2.
> This will give you the poorest data point.
>
> can you please check through your numerous sources, what sort of
> data is available if one wants to plot a single point for the day. In
> case you cannot get anything, then just send me the high/low daily of
> the Dow since , say June 1997. I wish to do some plotting on sunday."
> ----------------------------------------------
> Off Topic:EL Waving the DJIA Mentorspeak
> Date:
> Sun, 25 Oct 1998 01:01:59 -050
> Re: Reason I prefer analysing the DJIA
>
> As you know I do only Wave Analysis. To be honest, I do not know any
> other form of technical analysis. When I am in the company of other
> analyst friends and when I hear words liks MACDs, stochastics,
> Bollinger Bands, etc. I feel that I belong to a species known as
> the "ignorant ignoramus". As most of these analysts have complete
> disdain for the Wave Principle, my mouth remains firmly shut and the
> expression on my face is that of a moron.
> ------------------------------------
>
>
>
> Dan Harels wrote:
>
> > Tolerance of both our own and other's mistakes is a virtue. Let's all
try
> > to be virtuous.
> > Dan
> >
> > >From: Roberts@xxxxxxxxxxxxxxxxxxx (Simon Roberts)
> > >Reply-To: metastock@xxxxxxxxxxxxx
> > >To: <metastock@xxxxxxxxxxxxx>
> > >Subject: Re: Mentorspeak
> > >Date: Thu, 6 Apr 2000 09:15:42 +0100
> > >
> > >Rajeesh,
> > >
> > >Oh no, its not you that was wrong Rajeesh. Surely it was your mentor
that
> > >was wrong. There is a difference is there not?
> > >
> > >The mentor who I once supposed might be a friend of Canute.
> > >
> > >Simon
> > >
> > >-----Original Message-----
> > >From: Rajesh <rajesh@xxxxxxxx>
> > >To: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
> > >Date: 05 April 2000 18:39
> > >Subject: Mentorspeak
> > >
> > >
> > > >Re : Nasdaq
> > > >Appears I was wrong. The fall did break levels that shoud not have
been
> > > >
> > > >broken.
> > >
> > >snip
> > >
> > >
> >
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>
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