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Tom,
as it seems the list has come down with a severe case of trollitis acuta
(a.k.a. Bernie's Disease in medical circles), your interesting question has
so far remained unanswered. Let me try to fill in here a little.
Wolfe Waves constitute, IMHO, a legitimate, though somewhat subjective
technique. They appear more frequently in trading range markets, in all time
frames, whereas they are, by definition, practically non-existent in trends.
It takes a certain amount of faith (and guts) to trade Wolfe Waves, because
they are inherently counter-trend - you're trying to buy at the local low
which can become costly when it turns out it wasn't one.
Yes, LBR mentions Wolfe Waves in Street Smarts. The inventor, Bill Wolfe,
offers a correspondence course which covers more intricate details -
interesting, but a bit pricey (about $2,500, if I remember correctly).
Though I don't use any of it (I mainly trade options), I can truthfully say
I don't regret having taken his course as it gives a very unusual
perspective on trading.
Hope this helps.
Michael
-----Original Message-----
From: Tom [mailto:profilic@xxxxxxxx]
Sent: Monday, May 22, 2000 20:20
To: Omega-List@xxxxxxx Com
Subject: Wolfe Waves
Has anybody any opinion about this method. There is a mention of it in
Street Smarts??
Tom
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