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The problem with min time retracements is the times you are wrong --
opporunity costs. For my money, I would rather rely on Andrews, etc.
than an arbitrary time %. Another axiom I added to this line of
thinking for myself is that the strongest (or weakest as the case may
be) markets will take the least time to complete waves. So the ones
you want the most will be the ones you miss. Yea, sometimes you may
get in at the end of A instead of the end of C, but that is a risk I
would rather take, rather than missing it altogether.
LR - Chris, where in my post did you get the opinion that if Bonds move up
strongly my analysis would completely miss the boat. I stated:
A) That you can play the long side once you feel Wave A is in place i.e. some
type of reversal bar and simply put tighter stops on once the 50% retracement
has set in. If you are correct & the market is so strong then the stops
should not be taken out and you ride out the move.
B) That if the current high of 107-08 is taken out then 110-14 is in the
picture for a possible target. I have no problem reversing positions. I don't
go for the home runs so this move would be satisfactory to me.
Also, FWIW based on the 6 mo of Griffiths/Miner performance I saw
when I bought the software, they by no means have the holy grail. I
didn't keep track precisely, but I would think they would have been
lucky to break even or make some small $$. I have no regrets about
buying the software -- learned some things with its Gann and Andrews
tools that are worth many times the cost. What I saw of their
execution in the newsletter was at best mediocre though.
Chris
LR - There is no Holy Grail!
Lenny
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