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2270
something on the NDX is 50% retracement from Oct 98. A chart say a monthly
one of the NDX looks like a Elliot wave ABC correction completing. Lots
more tech stuff I'm sure but it is all useless unless you simply know this looks
like a normal correction or call it a small bear market if you are an
intermediate term kind of trader.
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FACTS
It will turn up. Don't know when. Nothing I watch says up. When it
does you start to buy. You better know what turn up means however.
Re read Dom Perrino's email so you know how to pick stocks when it does
turn.
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<FONT face=Arial color=#0000ff
size=2>Technicals are great but it ain't up until it is up. If you don't
understand that you will need to do a lot more reading and thinking.
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I
always find it a good idea to put up a very long term chart, like monthly
chart. Look at what has happened for the last two or three years.
Then put up a chart of three years but let is end several years ago. The
scale of the corrections always look bigger in a current chart. They
really looked big to me in the 1960s and 70s and 80s.
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<FONT face=Arial color=#0000ff
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<FONT face=Tahoma
size=2>-----Original Message-----From: Dom Perrino
[mailto:domenick@xxxxxxxxxxxx]Sent: Thursday, November 30, 2000
1:48 PMTo: realtraders@xxxxxxxxxxxSubject: [RT] Re: Time
to buy????????????
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Aside technical indicators,fundamental
indicators,ew,astrology ,gann, fibo.etc., and putting
personal experience in the forefront<FONT face=Arial
size=2>.Let's get some input based soley on experience since I think
that this election fiasco is throwing a monkey wrench in most
indicators.
Is this a buying opportunity that some time from now we will look
upon as a coulda, woulda,shouda ??? In my own past experience almost every
time things looked as dismal as they do now it turned out to be a buying
opportunity.
Let's hear from some heavyweights (and others).As a technician, I know
it is hard to put technicals aside. Let's try ,we will be able to hear
opinions without having to justify it with an indicator.
Dom
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