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I'm using localized count at high - looks much better.
Earl
----- Original Message -----
From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, February 28, 2001 7:11 PM
Subject: Re: [RT] Fw: Long Term Nasdaq
>
> BobsKC
> "So, we get short little spikes up which are seen as opportunities to get
> out and
> then those who got out are immediately looking for chances to get back
> in. A trader's paradise."
>
> >>>>>>>>
>
> BobKC,
> There is some real truth to that statement, which worries me personally,
> since I have been doing (bottom picking) SUNW allot successfully but
> admittedly I am not that good at doing that sort of thing (not a big stock
> trader), so am I being setup for what Ira might be suggesting (flat now)?
>
> If the pendulum swung too far up . . . . normally the opposite will
occur,
> down?
>
> The real question may be, in the NASDAQ parabolic (which I think we all
> agree with), will there be a wave 4 reaction up to let "the many" out
> (assuming this is a big wave 3 down (forget about the wave 3 high on the
> attached chart, it is a wave 5 no matter how it was labeled now)) . . . .
> or will it just tank and swing too far quick, or even worse trend down
over
> time, the "grinders" (the old time bear markets Ira (and I) have seen)
that
> most investors are not use to or have ever seen, like a file, wears you
down
> to the bone.
>
> Other commodities I have witnessed over a long period of trading
experience
> that go into parabolic's rises up (which incidentally are all labeled as
big
> wave 3), never see a wave 5, the same is basically true on the downside a
> big wave 3 down and the wave 4 or 5 never happens . . . . we maybe talking
a
> bubble folks that exceeds our worse fears if that is the case . . . . I
> sincerely hope not, but the possibility sure exits. Take a look at a
coffee
> parabolic, a corn parabolic, wheat, gold, silver . . . .etc.
>
> Point being EW will not tell you what is happening in a parabolic
generally,
> nothing will.
> don ewers
>
> ----- Original Message -----
> From: "BobsKC" <bobskc@xxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, February 28, 2001 3:05 PM
> Subject: Re: [RT] Fw: Long Term Nasdaq
>
>
> > If we get to the point that the last optimist cashes in his chips, we
can
> > all find new professions because you can't make money in what we do
> without
> > liquidity and optimists. The fact is that the NAS is down 65% or so
with
> > some components down 80 and 90%. To suggest that the NAS has a long way
> to
> > go, is to suggest that zero is not an impossibility. At the rate it has
> > been falling, zero would be reached within 8 months or so. (Just a
glance
> > estimate).
> >
> > I'm just trading the daily shifts at this point. I don't have an
opinion
> > about the next general move. I feel a huge bearishness about the market
> > from those who claim to be forecasters and fear among those who are
> newbies
> > or part timers. On the other hand, there is a very large amount of
money
> > sitting on the sidelines to be put in and will *have* to be put in. So,
> we
> > get short little spikes up which are seen as opportunities to get out
and
> > then those who got out are immediately looking for chances to get back
> > in. A trader's paradise.
> >
> > One aspect of the economy that I never see discussed it that with prices
> of
> > equities being hammered, these companies lose borrowing power and in
turn,
> > the means to buy new machinery, inventory, etc. Of course, this bleeds
> > down to that firm's vendors and then to their vendors, etc. All of this
> > affects employee compensation and even jobs. We are the tail and we're
> > wagging the cat. (Didn't want to get another dog thread started). :))
> >
> > Good trading to everyone.. there is something to be happy about for the
> > bulls and bears nearly every day. To heck with where the market goes..
as
> > long as it goes.
> >
> > Bob
> >
> >
> > At 09:14 AM 2/28/2001 -0800, you wrote:
> > >It must be the wrong time to get long. Everyone is looking for a
> > >bottom. This is not Biblical trading. "Seek and ye shall find" works
in
> > >individual stocks, but not in the indexes. I remember in the 70s when
> > >all you had to do was sell $1000 worth of calls a day and walk away.
> > >There was no fear, there were also no puts. Until that same attitude
> > >prevails, I don't believe there will be a bottom. One needs the last
> > >optimist to cash in his chips, and the last clearing firm to sell out
> > >its long position from a trader that went belly up, before this thing
> > >can turn. I have always been a bear at heart, for technically stocks
> > >are worthless. They are worth either what they will receive at
> > >liquidation or what someone else will pay you for them. The greater
> > >fool theory in action. This doesn't apply to dividend paying stocks as
> > >there is a return on investment. As long as there is someone out there
> > >selling the perception that the only place to be is in the stock
market,
> > >then like tulip bulbs, the masses will clamor for stocks, and that
> > >liquidity will allow we traders to make a good living. For some the
> > >charts will tell, for others it will be the planets, moon and stars,
and
> > >for others it will be some mystical system that proclaims that all the
> > >bad times are behind us. As a technician I still believe that one
> > >should trade what they see and not what they believe or are told. The
> > >bear market rally can be a vicious lesson for both bull and bear. Good
> > >trading, Ira
> > >
> > >Chris Cheatham wrote:
> > >
> > > >
> > > > Some interesting long term fib targets, etc. Notice how 23.6%
> > > > retracement (red) is approx. equal to 100% expansion of wave 1
(green)
> > > > which is approx. equal to blue Andrews line -- about 1775. Nice
> > > > target for end of 1st leg down. Regards,Chris Cheatham
> > > >
> > > >
> > > > Yahoo! Groups Sponsor
> > > [Become a Better Trader!]
> > >
> > > >
> > > > To unsubscribe from this group, send an email to:
> > > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > > >
> > > >
> > > >
> > > > Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
> > >It must be the wrong time to get long. Everyone is looking for a
> > >bottom. This is not Biblical trading. "Seek and ye shall find" works
in
> > >individual stocks, but not in the indexes. I remember in the 70s when
> all
> > >you had to do was sell $1000 worth of calls a day and walk away. There
> > >was no fear, there were also no puts. Until that same attitude
prevails,
> I
> > >don't believe there will be a bottom. One needs the last optimist to
> > >cash in his chips, and the last clearing firm to sell out its long
> > >position from a trader that went belly up, before this thing can turn.
I
> > >have always been a bear at heart, for technically stocks are
> > >worthless. They are worth either what they will receive at
liquidation
> > >or what someone else will pay you for them. The greater fool theory in
> > >action. This doesn't apply to dividend paying stocks as there is a
> return
> > >on investment. As long as there is someone out there selling the
> > >perception that the only place to be is in the stock market, then like
> > >tulip bulbs, the masses will clamor for stocks, and that liquidity will
> > >allow we traders to make a good living. For some the charts will tell,
> > >for others it will be the planets, moon and stars, and for others it
will
> > >be some mystical system that proclaims that all the bad times are
behind
> > >us. As a technician I still believe that one should trade what they
see
> > >and not what they believe or are told. The bear market rally can be a
> > >vicious lesson for both bull and bear. Good trading, Ira
> > >
> > >Chris Cheatham wrote:
> > >>
> > >> Some interesting long term fib targets, etc. Notice how 23.6%
> > >> retracement (red) is approx. equal to 100% expansion of wave 1
(green)
> > >> which is approx. equal to blue Andrews line -- about 1775. Nice
target
> > >> for end of 1st leg down. Regards,Chris Cheatham
> > >>
> > >>
> > >>
> > >>To unsubscribe from this group, send an email to:
> > >>realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >>
> > >>
> > >>
> > >>Your use of Yahoo! Groups is subject to the
> > >><http://docs.yahoo.com/info/terms/>Yahoo! Terms of Service.
> > >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
> >
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
To unsubscribe from this group, send an email to:
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