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Gary you seem to be making a leap of faith here. If you look at the weekly
then we are still in an uptrend (HH, HL etc) and in the daily as you say we
have a triangle which to me can be read as nothing else than a
consolidation of the current trend i.e. up. Your target does not come into
play until and unless the lower T/L is broken which it might be but then
the upper trend line could be broken also which would target around 1530. I
am not saying you are wrong but you are not yet right. :-)
best regards,
Philip
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> From: khanitha <charlie@xxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: wave 3 starting in nasdaq......
> Date: 27 August 1998 05:24
>
> Sorry to be the contrarian again,
>
> I disagree, let's all look at the huge "triangle" from up at the highs of
> almost 1500 , to the recent low near 1300 or so. I say the next target
is
> down near 1210, like in the next few days, or if need be, the next few
> weeks ( I now wish i had nasdaq puts, instead of oex, but i'll still
enjoy
> the ride down) !!!
> right now, about midnight in chicago, the nikkie is down hard and the
spooz
> are down another 600 or so. Let's see if the scale tips in my
> direction/favor tomorrow (thursday)....
> gary
> hawaii
>
> ----------
> > From: zaz@xxxxxxxx
> > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > Subject: Re: wave 3 starting in nasdaq......
> > Date: Wednesday, August 26, 1998 6:18 PM
> >
> > Gary,
> > I agree with Tom that the Nasdaq is holding support fairly good,
> > another break above 1400 would be bullish, especially if it closed the
> > month above that level, for your information thats the h+l+c of july
> > divided by 3. see chart.
> > good luck
> > Jerry S.
> >
> >
> >
> >
> >
> > khanitha wrote:
> > >
> > > Hi rt's
> > >
> > > I know i said i wouldn't make comments for a while, but i couldn't
> resist.
> > > look at the nasdaq, looks like the start of a big break down (wave
3),
> > > ALSO, breaking uptrend support lines...........
> > > gary
> > > hawaii
> >
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