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HEY!
Just wanted to get your attention - sorry, I'll lower my voice now.
First of all, I don't know why anyone would trade Sept silver; I'd bet
(since I haven't checked) that Dec has higher open interest. As far as the
wave count (which I also haven't checked), yes, basically speaking,
corrections are three waves - A, B, C. But since the discussion involved
wave 4, I must assume we're looking for a developing zig-zag correction, and
we're in wave 4 of wave A. If that's the case, you'll see a 5 down, 3 up,
then 5 down formation. All waves basically subdivide into fives or threes,
right?
Hope it helps,
Dennis C.
dconn@xxxxxxxxx
-----Original Message-----
From: P Gumprecht <ktata@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, July 08, 1998 7:47 PM
Subject: Re: Silver
>At 05:27 PM 7/8/98 -0400, Alan Sears wrote:
>>
>>
>>>Hi Alan..........
>>>
>>>I'm looking at SIU8(Sept. Silver).........possibly have finished up a
wave
>>4
>>>and are ready for new lows....which could be a nice buying
>>>opportunity...........
>>>
>>>Any comments from your "whirlwind" software??????????
>>
>>
>>My crystal ball shows Silver at an ideal point in time & price
>>for a wave 4 high, you will also meet a tall dark handsome stranger :-)
>>
>
>Tell me something... I see silver as being in a long term bull trend,
>having reversed in July of 1997. Thus a corrective bear trend should be a 3
>wave ABC formation, no? Especially following the 5 wave bull trend which
>ended in Feb of 1998. I'm watching the December contract, but that
>shouldn't make any difference. Please correct me if I am wrong.
>
>P.
>
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