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In a message dated 97-07-17 16:00:50 EDT, ricrat@xxxxxxxxxxxxxxxxxxx (RJ
Ratchford) writes:
> So, if you are going to short, be aware of this. If you are going long,
> wait for the swing up to occur.
>
Rick wrote what I consider to be an outstanding note (only partially
excertped above) in response to an issue on fundamental vs. technical
analysis. One of his great points was the difference in timing, and the
certainty that fundamental analysis can point the direction but almost never
pinpoint the moves in between.
As an example, I think this group is aware of my "fundamental" viewpoint that
Corn and Beans are headed down, way down, by Nov.-Jan. But from a trading
standpoint, it is quite clear that we will have lots of (are they Elliot?)
waves in-between, including what we're doing right now in the so-called
weather markets. I personally think both Corn and Beans will move up, to
260-270 and to 650-670, respectively, before August is out. However, I will
not trade that move, because I am a bear. Puts for me, pile 'em on in any
rally.
Anyway, I urge everyone to read Rick's note.
Good luck.
Larry
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