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Earl et al,
It took some looking but I think that I understand what you are trying to
show. I agree that the breakdown of the Wave was pretty clear.
On a natural hour 60 min chart of Wheat you get all that and a bit more. It
finally retraced 93% of the rally. Once it crossed the up trend line it
never looked back. The news today said; "Several local traders were said to
have been caught long wheat and short soybeans, and their attempt to get out
of these positions extended losses." All of the funds jumped in selling
thousands of contracts. Just another freeky Friday at the chop house.
It only hurts when I laugh.
Brent
-----Original Message-----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, May 14, 1999 6:54 PM
Subject: Another simple technique
>Don't know if this will help, but Wheat had a similar setup to C(orn) which
>I was long.
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