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Thanks Jim
As I mentioned, I read it in Street Smarts. At that
time in 1997, I noticed a pattern in the weekly chart in the Malaysian Stock
Market
and similar patterns in the Asian Indices. I was at
a brokerage house dealing with high net worth clients. During May of 2007,
my boss
handed me some client accounts to look after. He
asked me to recomend a strategy for them.
As I had just read "Street Smarts" and also noticed
several Asian Stock Indices showing similar Wolfe Wave Patterns, I recomended to
exit all positions for about 2 to 3 months. Anyway,
a correction was also in the cards. As the saying goes " Sell in May and Go
Away".
My boss didnt like the suggestion and told me to
find a way to recomend a switch in portfolio holdings to less volitile, safer
stocks.
I live in SIngapore. The portfolios were mostly
Malaysian Stocks.
Two months later, the Asian Financial Crises began.
There was blood in the streets for many financial assets.
The Malaysian government, instead of going to IMF
for help, closed all doors and imposed "Currency Control"
Nobody could take money out of the country if they
sold shares. The money had to be kept within the country until
nobody knew when. The deputy prime minister (
in US terms , the Vice President ) was arrested for sodomy.
There was choas. I recall this incident because it
were the Wolfe Waves which alerted me of what I didnt know was about to
happen.
Cheers and Thanks
Kishore Rochey
----- Original Message -----
Sent: Wednesday, March 18, 2009 5:00
AM
Subject: RE: [RT] Wolfe
Yes, I?ve
read his little teaser tutorial on Wolfe Wave many times and that?s why I call
it KISS. It is simple and I believe it gives you a little edge. I
don?t know what you?d get for the $3K and I haven?t taken the course.
And I?ve never found, in hundreds of hours of posting on many blogs, anyone
who has taken the course. The WW searches I?ve done are quicky
descriptions of the method but do not comport to Mr. Wolfe?s tutorial in many
cases. So, no, I really don?t have anything that would be more
sophisticated than that tutorial unless you spent the $3K for the fax back and
forth Wolfe wave course.
Reading your
post, you might not have discovered the Wolfe wave teaser tutorial. It
is very good although I?m sure he?s holding back some things that he considers
?secrets? that are worth the cost of the course. I used to have the link
but I?ve changed computers. You?ll know you?re there when you get the
last couple screens that offers it for the fee. It is well worth
reading, a couple times (takes only minutes to move through it).
Good luck,
Jim
From: realtraders@yahoogroups.com
[mailto:realtraders@yahoogroups.com] On Behalf Of Kishore
Rochey
Sent: Wednesday, March 18, 2009 2:53 AM
To:
realtraders@yahoogroups.com
Subject: Re: [RT]
Wolfe
I read about this method of
trading - Wolfe Wave some 10 years ago from the book ' Street Smarts
'
A friend lent me the book to
read.
Looking at the screenshot, I
understand where you are coming from.
Do you have any recent
meterial on the setups or any update of the Wolfe Wave trading
method.
I remember that it was being
taught by Mr Wolfe himself for about USD 3,000.00
then.
----- Original Message
-----
Sent: Wednesday, 18 March, 2009 9:25
AM
Thanks
Don. Actually, in early March I was looking at looking at a larger
timeframe and McHugh?s March 9 Phi turn date as being point 5 that got me
long March 9. Looks like the green objective line that is
realized. On Friday near the close I flipped short because we?d gotten
so close to the objective (I quick called it Friday as today
demonstrates). Once the topping is complete (and today?s move
looked very ending diagonalish to me) this top becomes a point 5 with Jan
2008 as point 1. That gives an incredibly lower objective (see the
second chart).
Which gets
us back to the next apparent Wolfewave with much larger time and price
implications. Note that the objective we reached recently through the
bullish WW above now becomes point 5 of the new wave. The fly in the
ointment is that point 5 above can overshoot so it can still go higher
before the dive. And EW would allow this thing to piddle around for
quite a while before embarking lower. Nevertheless, the weight of EW
?celebrity? analysts believe a wave 5 down is forthcoming (Prechter and
Neely notably).
From: realtraders@yahoogroups.com
[mailto:realtraders@yahoogroups.com] On Behalf Of Don
Ewers
Sent: Tuesday, March 17, 2009 7:52 PM
To:
realtraders@yahoogroups.com
Subject: [RT]
Wolfe
Here is a different Wolfe
wave pattern that appeared back a week ago at the bottom I was
watching. It is off Interactive Brokers 30min charting so I can't
label the 1-2-3-4-5, but look at the downward wedge, a clear 1-2-3-4-5 and
spring starting. Prices did retreat but stopped at the lower TL (retreat not
shown), then rocketed moving well above the target line . . .
telling us something . . . . this reaction was more than a
Wolfe?
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