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The three points are three obvious swing points.
The purpose of the Chart with the lines is to show the shiff ML not to
comment on silver.
RM
At 06:23 PM 7/28/98 -0400, Martin Coffey wrote:
>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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