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<DIV><FONT color=#000000 size=2>Hi William,</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT size=2>Yes, as hard as it may be to believe, Elliott Wave can be
applied to real-time trading - but becoming proficient in doing so can be an
extremely frustrating exercise at times, especially during corrections. At
times, the wave count is unmistakable; at others, there can be several different
interpretations. I'm struggling through the learning process myself, but I can
see how it's possible to over- or underestimate a top or bottom. I believe that
Prechter stated years ago that he would probably be wrong in a big way around
the top of the current Grand Supercycle wave - at least he was right about
that!</FONT></DIV>
<DIV> </DIV>
<DIV><FONT color=#000000 size=2>As far as what time frame is the most likely
candidate for its application, I've seen what appeared to be identical charts
that were actually two different markets AND two different time frames.
Coincidentally, I was having a conversation with someone today on this topic and
voiced some observations such as the ones you posted, and was told that getting
the counts right is made easier by using indicators like moving averages, MACD,
etc., in addition to volume. I'm certain others on the list will have more
insightful comments than I can provide.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT size=2>Regards,</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Dennis C.</FONT></DIV>
<DIV><FONT color=#000000 size=2><A
href="mailto:dconn@xxxxxxxxx";>dconn@xxxxxxxxx</A></FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>William L. Mabee <<A
href="mailto:wmabee@xxxxxxxxxxxx";>wmabee@xxxxxxxxxxxx</A>><BR><B>To:
</B>RealTraders Discussion Group <<A
href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>><BR><B>Date:
</B>Thursday, July 16, 1998 6:17 PM<BR><B>Subject: </B>Elliot
Wave's<BR><BR></DIV></FONT>
<DIV><FONT color=#000000 size=2>Have never tried to trade utilizing Elliot
Waves. However, am left with</FONT></DIV>
<DIV><FONT color=#000000 size=2>impression is that they are not very useful.
Last year read "At the Crest</FONT></DIV>
<DIV><FONT color=#000000 size=2>of the Tidal Wave" by Robert Prechter.
His market prediction certainly</FONT></DIV>
<DIV><FONT color=#000000 size=2>has amounted to a miss by a mile. Anyone
actually use these to</FONT></DIV>
<DIV><FONT color=#000000 size=2>trade ? Is this methodology better used to
predict longer term</FONT></DIV>
<DIV><FONT color=#000000 size=2>trends ?</FONT></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Thu Jul 16 16:36:49 1998
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From: "Dennis L. Conn" <dconn@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re:OPT-Assignment
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Dave,
Might have been a beginner's mistake - did it myself when I first started
trading. Beyond that, I can't think of a rational reason.
Go figure,
Dennis C.
dconn@xxxxxxxxx
-----Original Message-----
From: pressdl <pressdl@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, July 16, 1998 6:48 PM
Subject: Re:OPT-Assignment
>Any explanation would be appreciated. I had options assigned late
>yesterday. That is the first time I had options assigned prior to
>expiration. That was a surprise --but not nearly as much as the fact the
>option was assigned with the stock still 1 1/4 pts below the stock price.
>Any suggestions as to why someone would do this??
>
>I merely bought the stock back and wrote calls for the following month.
>
>Dave
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