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Me too at times, Jimmy.
EW is just a broad general roadmap that can be followed, that's all. I
t tells you what might be around the corner and using very specific techniques
namely a 5/35 oscillator (and a 5/17 and 10/70) to tell you whether a
count change is eminent. It attempts to keep you out of trouble and on the right
side of the trade. Money management, discipline and trade size will
however really dictate the success of any trader, as we all know.
To answer your question, I have no idea at this point but can detail some
possibilities. I do think this is an important trading point potentially,
however.
The way I see it there are several possibilities (not predicting here
justlooking at the possibilities)First (a bit bearish) the 5 wave
sequence to the low is really a larger Wave1 (with a 5 wave sequence) and
the ABC correction is a larger Wave 2.Meaning we have started large Wave 3
down (minor 1:3 = minor wave 1 of bigWave 3) and may get a pullback (minor
wave 2:3) that will not take out thewave C top.Second (bullish) the
5 wave sequence down is complete and Wave A is reallyWave 1 and Wave B is
really Wave 2 and Wave C is really minor wave 1:3, andthe pullback to the
trendline is minor wave 2:3 and we are headed up fromhere in which case the
wave C high will be exceeded. (It is also possiblewave C will relabel as
wave 1 still making this pullback wave 2?)Pick your poison? We will have
to let the charts and AG (Alan) tell us thedirection. Bonds might be a clue
in the short term, if they continue to move dramatically higher a recession with
some teeth in it and most likely a weaker market. It is possible however that
both stocks and bonds move in the same direction as opposed to opposite at this
point in the economic cycle, as I have mentioned before, so that may not help
either? This will be interesting going forward for sure!don ewers
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Jimmy
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Saturday, February 10, 2001 11:13
AM
Subject: RE: [RT] Fibonnaci
So
what is next per EWT? Do we now have a wave 3 down or is it 1
up or will a B down follow? I'm lost in
the
waves as usual.
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>Jimmy
<FONT face=Tahoma
size=2>-----Original Message-----From: Don Ewers
[mailto:dbewers@xxxxxxxxxxxxx]Sent: Friday, February 09, 2001
9:09 PMTo: Real TradersSubject: [RT]
FibonnaciFor those of you that use fibonnaci
extensions (and possibly EW, as I do),an excellent example that it
should be "considered" in any trading strategy.Two hits in my
book.The attached ABC consolidation off a major December low, was a
perfect 1.0times Wave A = Wave C (added to the depth of Wave B) so
far, top was taggedalmost to the tic . . . then the l"apparent"
low on 2-9-01 today ( a .618retracement level off the low to the recent
high) . . . this works allot bythe way . . .don
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