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A famous gambler of old once said that "what is due to happen is
what has been happening until it doesn't happen any
more". 'Jimmy the Greek'
Bob
At 12:36 PM 9/29/2001 -0400, you wrote:
Ralph: I agree
with you that Symmetry does not ALWAYS work. I've been bitten by
it before as I have a cycle that may flip...
In my experience something works
until it stops working... Right now using
weekly charts the symmetry is working ..... I will follow it until it
stops working... J
----- Original Message -----
From: Ralph Volpe
To:
realtraders@xxxxxxxxxxxxxxx
Sent: Saturday, September 29, 2001 12:23 PM
Subject: Re: [RT] INDU
Dorothy, I posted the INDU message yesterday and had to run. However, I'm back and after some thought, I have to refute what you've said. First, you talk about symmetry in the markets. Where? Look at any chart, I never see symmetry. For example, look at the move from 1995 to 2000, where was the symmetry for that? How can symmetry have alerted you to that move. That was strictly fundamentals, fundamentals, and fundamentals. Look at any chart and I can show you more violations of symmetry than you can show me examples of it. You also mention that large volume needs to define a turning point. That isn't always true. The common turning point develops when Bear thrusts lower are weakening and Bull thrusts higher are just beginning. The full thrust of the Bulls usually occurs somewhere near 75% of the top, or near the end point of the Elliot 3rd wave. That's when there's maximum unison and energy to run it higher. At this point, however, I think the balance has just tipped in favor of the Bulls and I think you'll be seening more evidence of that as the days unfold. Now that I've made my case for the Bull clear, they'll be a 1,000 point drop on Monday. If you also read back on this note, you see that I've used the term Bear once and Bull four times. See, the Bulls are winning already!
Ralph
"Dorothy K. Carter" wrote:
If you are right short term that it can extend the move into next week... Looking at symmetry it would appear that the upside would be limited and that what ever high level chop we may mark out would possibly be making a right shoulder for an eventual down...... Personally, If we continue to rally on lite volume I can't get excited for the bullish case....
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