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With a
rise from here the last rectracement really was dead on classic. I gave up
on EWT when Prechter went
<FONT face=Arial color=#0000ff
size=2>bearish in 87. Perhaps I should say I gave up on Robert. EWT
is pretty cool.
<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: Saturday, February 10, 2001
11:49 AMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT]
Fibonnaci
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
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- 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
<FONT face=Arial color=#0000ff
size=2>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 ewersTo unsubscribe from this group, send an
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