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Ira, pls direct me to some dicussion of translation. If I remeber correctly
it has to do with the identifcation of a bullish or bearish tend, but
evaluating the rate of change of the up vs down moves. a bull trend grinds
upwards against the wall of worry with short severe corrective drops and the
bear is the opposite?
Chasw
----- Original Message -----
From: "Ira Tunik" <irat@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, October 30, 2001 4:15 PM
Subject: Re: [RT] Case for the bulls-Maybe there is a case for both the
bulls and the bears?
> Symmetry means that the right and left side of something are alike. with
the markets this is not true. If the market is rallying then the
> high will usually occur during the last half of the cycle, sometimes on
the very last bar. In a down market then the high comes during the
> first half of the cycle. There is no symmetry. The lows should be
equally spaced at 10 bar, 15 bar or # bar cycle, but the cycles are not
> symmetrical in their individual shape. The second down leg could be
symmetrical with the first, etc. but to call an up leg symmetrical to a
> down leg is usually not true because of the translation of the highs.
>
> "Dorothy K. Carter" wrote:
>
> > IRA: While I expect a rally into Nov 1, NDX has given the following
> > downside targets:
> > 1137.25 787.08 .......... Pls explain why I forgot about
> > translation????? Best, Dorothy
> > ----- Original Message -----
> > From: "Ira Tunik" <irat@xxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Sunday, October 28, 2001 11:08 PM
> > Subject: Re: [RT] Case for the bulls-Maybe there is a case for both the
> > bulls and the bears?
> >
> > > You talk about symmetry and forget about translation.
> > >
> > > "Dorothy K. Carter" wrote:
> > >
> > > > I agree the next leg down ... there will be no place to hide... The
DJIA
> > > > will most probably be taken down harder than NAZ.... To get the real
> > idea of
> > > > where NDX is at take a look at monthly chart symmetry would
suggest
> > that
> > > > if a rally ended Fri. with the sharp reversal as suspected, then
that
> > high
> > > > would be equal to monthly high of 7/31/98 1485.97. As stated
> > before...
> > > > with US$ turning down it's the foreign sellers that we have to worry
> > > > about.... The U.S. investors have shown resolute and won't
capitulate
> > until
> > > > Sept. lows are taken out most probably....... Have a great week
> > > > trading............ Dorothy
> > > > ----- Original Message -----
> > > > From: "Rakesh Sahgal" <r_sahgal@xxxxxxxxxx>
> > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > Sent: Sunday, October 28, 2001 1:00 PM
> > > > Subject: Re: [RT] Case for the bulls-Maybe there is a case for both
the
> > > > bulls and the bears?
> > > >
> > > > > Am attaching two charts using Clyde's adaptive stoch indicator on
the
> > > > D/W/M
> > > > > time frames. Seems that the tech bust is almost finished and as
Earl
> > had
> > > > > suggested a while back the "REAL" economy stocks in the DJI are
the
> > ones
> > > > in
> > > > > serious trouble now.
> > > > >
> > > > > Rakesh
> > > > >
> > > > > At 09:34 AM 10/28/01 -0800, you wrote:
> > > > > >Hi All,
> > > > > >
> > > > > >IMHO, speaking only to the NDX, the bears are quietly, slowly
> > > > > >being squeezed hard. Unless some serious exogenous (external)
> > > > > >event occurs they seem about to have their heads handed to
> > > > > >them. Anthrax news has not been even nearly strong enough to
> > > > > >stop this. 5 min NASDAQ adv/decl volume bars have been clearly
> > > > > >bullish for a couple weeks. Additional support comes from the
> > > > > >bears quietly changing their retest the lows in October
> > > > > >prognostications to retest the lows in November/December. I'm not
> > > > > >saying the long term downtrend has changed, nothing's different,
> > > > > >bearishness seems justified.
> > > > > >
> > > > > >But, unless I had a solidly profitable short position or just
> > > > > >went short in the last few days with a close stop, I would be
> > > > > >losing sleep now.
> > > > > >
> > > > > >Maybe I'm wrong. This market has shown the absolute minimum of
> > > > > >bullishness possible every step of the way this year. But that's
> > > > > >the beauty of day trading NDX futures. It means never having to
> > > > > >care which way the market goes so long as it moves 8-).
> > > > > >
> > > > > >regards,
> > > > > >
> > > > > >tbr
> > > > > >
> > > > > >_________________________________________________________
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