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At 04:21 PM 4/2/98 EST, SP Broker1 wrote:
>Greetings RTers,
>
>I have been asked to be more detailed and insightful about the following
>statement that I made:
>"I think this thing (meaning the stock market) is going to go up until it
>stops going up".
>
>I posted this in response to a prediction that the market was going to
advance
>to a certain level, then fall off to a lower level. I was not trying to be
>funny, or cute, or
>disrespectful to this forum. If any of you, my esteemed colleagues, took it
>that way, then I must beg your pardon!
>
>However, the point I was making is as follows. We are in such an OVERWHELMING
>up trend that someone trying to predict its end based upon
>whichever methodology they are using (be it Gann, Elliot, Astro, Classic Tech
>Patterns, bone throwing, etc) is almost doomed to failure before they start.
>The trend is UP. The trend will not turn down until it turns down. When will
>this happen?
>I DO NOT KNOW. Neither do any of you. But the best method to trade this
market
>is simple trend following indicators and those indicators are pointing up.
>
>I believe that folks telling us the market will turn at such and such a
price,
>WITHOUT telling us what type of methodology they are using, are doing this
>forum a disservice.
>
>Now I will sit down and be quiet. I feel better now.
>
>
>Good trading,
>
>Peter
>
>
>
Peter,
What if you had first considered that your statement could be
taken as an insult. Would you have made your point a different way?
I'll go out on the limb to see if you have some even more powerful
invective for me: My target for the DJIA is 11,200 and the NASDAQ
composite 2,000. The main reason is the calm but growing economy and
low (non-existent) inflation and the ton of dough piling into stock
funds (24 billion last month). We are only going to be outdone by
the European market due to the EMU effect.
PeteNa
petena9090@xxxxxxxxxxxxxx
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