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Renate
I am at sea as to whether I should buy silver for a move to 640, and possibly 740,
as per your Image 114...... or whether to short silver for a move to 480, maybe
more, as per your Image 115.
In your note, you refer to points A,B, and C.. perhaps you could identify those
points for newcomers to this thread.
It's quite possible that I am missing some fundamental tenet of this analysis, and
if so, please forgive my ignorance.
Martin.
Renate Muldowney wrote:
> The Andrews ML is drawn by finding 3 points A_B_C
> Find the mid point of B-C and draw a median line by connecting A and the
> mid point.
> To get the parallel lines draw lines from B and C that are parallel to the
> line A-Midpoint.
> As in the chart with the up sloping silver line
>
> To draw the Schiff ML
> Find the midpoint of AB and The midpoint of BC draw a line connecting the two.
> To draw parallel lines draw the lines from B and C.
> Example is the down sloping silver line.
>
> Besides being a different line the purpose of the 2 are different.
> The Schiff is used only to find turning points in some situations.
>
> At 12:45 PM 7/28/98 -0700, Tom Stein wrote:
> >It is amazing how the cash S&P came with 1 point of a .618 retracement of
> >the June-July rally......It's hard to imagine why anyone would say that Fib
> >numbers don't work......
> >
> >I don't care why they......but they do have some validity.....
> >
> >
> >Tom Stein
> >comfut@xxxxxxx
> >
> >
> >
> >
> >
>
> ------------------------------------------------------------------------
>
> Name: Image114.gif
> Image114.gif Type: GIF Image (image/gif)
> Encoding: base64
>
> Name: Image115.gif
> Image115.gif Type: GIF Image (image/gif)
> Encoding: base64
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