|
PureBytes Links
Trading Reference Links
|
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
> >
> >
> >-------------------------------------------------------------------------
> >This email server is running an evaluation copy of the MailShield anti-
> >spam software. Please contact your email administrator if you have any
> >questions about this message. MailShield product info: www.mailshield.com
> >
>
> ______________________________________________________
> Get Your Private, Free Email at http://www.hotmail.com
|