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A little contribution re: Bonds....This is a long term outlook.......
I will first give you a little Elliot Wave(it's easier than you
think)....then an idea using simple trendlines............
The drop from 123.28 to 118.10 was a 3 wave affair.....this tells us that
123.28 has a very high probability of being taken out again(yahoo for
refinancing!!!!!!).......
The rally from 118.10 to 122.28 was also a 3 wave affair............
Thus we can say that we are either in an ABC correction or an ABCDE
correction....BOTH have the same implications.....123.28 should be
exceeded......
HOW does one make the $$$$$$$.......
1)IF A=C...then we have a downside target of 117.10....maybe a good spot to
look for buy signals??????????
2)IF this winds up being an ABCDE....contracting triangle.....then 118.10
may not be exceeded on the downside....we may be in wave C,now...with a
smaller up then down sequence for the D and E.......
Okay....now for us simple minded traders....draw a trendline from 123.28 to
122.28........
When that is exceeded.....we should be in a thrust that takes us above
123.28...........
I will update as we go along, so that maybe IF I'm lucky enough to be
correct....someone may benefit from the simplicity of using trendlines to
make a little money......
Tom Stein
comfut@xxxxxxx
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