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Jimmy,
Ahh, yes October of 1987, he had it right one might say, just the wrong
degree of the count (wave 2, not wave 5), look at the monthly chart
attached where 1987 is. Also attached is the weekly which shows a large ABC
corrective pattern ending near a swing target, so I repeat this is an important
time as to which direction we go from here (the 1.618 expansion also shows where
a wave 3 down (wave A becomes 1, wave B becomes 2 and wave C becomes 3) might
go, ugh, hope not. Keep in mind this whole pattern can unfold into yet a larger
pattern (Mr. P's mistake?) Also of note on the monthly is the 5/35 oscillator is
approaching zero in a month+ which could mark a wave 4 on the monthly (software
posts the wave 4 when the oscillator gets to zero (or gets within 10% of it)).
This folds relatively well into the weekly chart which is showing internal
breakdown of wave 3 on the monthly, and a possible ABC wave 4?
Now if one would have only taken those XTL trades and held, hmmmm . .
.
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 12:05
PM
Subject: RE: [RT] Fibonnaci
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: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";>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
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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
<FONT face=Arial color=#0000ff
size=2>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
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