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Why not indeed. Markets will do whatever it takes to confuse the most. After
having scared most aficionados of tech so far this year, we may indeed have a
run enticing all the sideliners to jump in again and throw in the towel as we
approach 4400 and before the train takes off to new highs, just when a second
round of distribution starts, and here you get true panic with several 10%+ down
days... At the new sub 2900 lows, promise, we'll never do tech again, just
before the biggest part of the net bull starts in earnest for next 3 years... In
this scenario for sure you wouldn't find anyone long but the strongest
investors.
Just fantasizing,
Gwenn
"Dennis L. Conn" wrote:
> Hello all,
>
> This is a bit outside the realm of trading, unless you're willing to take a
> position based on predictions of what you imagine a market is going to do.
> But the mental fun and games of prognosticating is somewhat addictive, so
> I'll toss my own views of the NASDAQ Composite into the ring. Besides, I
> still think I do Elliott better than any program can - my ego, you know...
> But I still wouldn't enter a trade based ONLY on this kind of analysis.
>
> This has been my 'preferred' count for the past month and so far, it's
> holding up well - wave A of (B) rallied right into he middle of a Dinapoli
> level, wave B retraced wave A by 123.6% (a common ratio for B waves in
> expanded flats), and last Friday's gap opening has the look of a wave 3 (of
> C) centerpoint. I figure the current rally should end up somewhere between
> the green lines around the .618 level of the five wave move. If my labeling
> is correct so far (or in the realm), then another five waves to the downside
> is in the offing after the completion of wave C of (B). Now the question is:
> will it end a three wave move in a larger corrective pattern, or will it
> develop into a larger five wave pattern? My assessment, FWIW, is that the
> projection given on the chart is only going to be three waves of a larger A
> wave in a huge flat or triangle. Then three waves to new highs followed by a
> crushing C wave that carries into sub-2000 territory (if it does turn into a
> flat correction).
>
> There - now we can all get filthy rich based solely on my opinion! Sounds
> promising, doesn't it? : )
>
> Clairvoyantly,
>
> Dennis C.
>
> P.S. When it all falls apart and does something entirely different from the
> above, don't blame me.
>
> ----- Original Message -----
> From: <ROSOW@xxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, June 01, 2000 11:30 PM
> Subject: [RT] Re: Naz
>
> > Hi all,
> > I see the Naz heading to the broad area of 3680-3720 before resistance
> > sets in. Looks like a wave 3:A to me. Any comments?
> >
> > PS - I don't like wave 4:5 encroaching the territory of wave 1:5 but the
> > closes were only 10 points apart. Besides why ruin a good picture(ggg)
> >
>
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