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BobKC,
Here is the 60min chart on AOL (I added the daily again if needed for
reference).
It is just looking at the price structure from minor wave 4 of wave 5 on the
daily (basically the point where the regression channels start on the daily
chart). If the pattern is correct, then it is in the extended wave 3 range
which only happens 8% of the time. In otherwords a time to tighten stops if
one were short or cover. What could happen from here is a wave 4 rally on
the 60min, followed by another final wave 5 decline (provided the PTI stays
high enough, currently 99) that might reach down into the refined area shown
on the daily.
The wave 4 rally could trigger a "false buy on the daily" (braking the
regression lines and 6/4 ma), which I call the "fooler", until pattern is
"really" done.
As an add on I have not used 60min charts on stocks all that much (do on
commodities though) so this falls in the FWIW department (meaning little
experience as to the accuracy).
don ewers
----- Original Message -----
From: Don Ewers <dbewers@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, April 10, 2002 1:05 PM
Subject: Re: [RT] AOL
> BobKC,
> Here is what AGET is saying on a daily chart FWIW.
>
> Price is definitely into some support areas including the MOB's and just
> entering the wave 5 target range (I also did an "internal" wave projection
> of just wave 5 which shows an even more refineded target range which "may"
> come into play as well).
>
> Typical trade rules would require a break of the regression channels or
the
> 6/4 ma channels to trigger a buy. I will look at a 60min to see if it
> reveals anything more in detail. If so I will post it.
> don ewers
> ----- Original Message -----
> From: <bobskc@xxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, April 10, 2002 12:21 PM
> Subject: [RT] AOL
>
>
> > I felt that a bottom may have been put in for AOL today and bought in at
> > 20.33. The 20M new shares was filled without effort and the low volume
> > leveled ... Warner is worth about $22 as a weighted mc which means AOL
is
> > free and you get TW at a 10% discount. Just my thoughts and action..
all
> > due diligence in order of course.
> >
> > Bob
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