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Strategies & Market Trends : TA- Advanced GET

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To: Matt Bowen who wrote (257)	1/20/1997 8:11:00 PM
From: Gary Burton	of 1551

Matt-thanks for your reply. I've been using all the tools you mentioned but my frustration is a little different. On deep downtrends, GET will find the first 1-2-3-4-5 ok but then along comes a rally retracing more than 24% of the previous decline from the top and then the rally peaks out and a new low follows. GET then relabels by moving the previous w3 over, counting the just completed rally as W4 and the new low as the W5. But, GET was right the first time---partic when the osc goes to say 135-150% off the low--and the second new low is really the start of a separate impulse wave as the C leg of a giant A-B-C. either that or even more likely the entire count to the ultimate bottom is really an ABC-x-ABC meaning that the bottom will come in just where GET is currently calling only a W3. So, the trader sits back waiting for the W4 to turn into the final leg down and presto the stock instead takes off on the upside for a double. My point is that because GET is geared to dealing in impulse waves, it often miscounts in prolonged downtrends since the program can't seem to handle complex corrective waves. The semi equip stocks all surged from bottoms that GET had been saying were only W3's -an elliottician used to seeing double zigzags on the downside would of course prob have jumped in at the bottom of GET's W3-I hesitated- thinking that GET was wrong and what was about to unfold was going to be far stronger than a W4 sucker rally. -----btw dispite my strong reservations about GET's counting -I use the What If to force a new low just to flush out the relabeling in advance- I like the program a lot and use it several times a day---it's just that I've now learned what its deficiencies are and so I now adjust accordingly. Sure frustrated at being left at the station just prior to the surge in semi equips though!.-----ps I think the What If feature is one of the best features in the program. Winwaves can't do that, at least not yet. You should push that as advantage over EWA-I think a key advantage. Michael Kreidler might find it handy to mention in his sales pitches.

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