GZ... i think his analysis is on the ball:
i see up day on monday or tuesday... then crash to 7200..
who said history cannot repeat itself?
random walk theory .... HA!
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Subject: Tech Stock Options
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To: Patrick Slevin (32742 )
From: donald sew Saturday, Jan 10 1998 1:13PM EST
Reply # of 32753
Patrick,
Very interesting stuff, not that I am a believer in astrology, but if there is a pattern then analytically it can be used as a means to determine probability.
The technicals are are mathematical study of historical patterns; therefore since this pattern has high probability, then it should not be discounted.
So tell me, is the full moon this monday.
Heres a interesting point, and nothing to do with astrology. I have not done a statistical analysis, but should - I have noticed that after every significant drop producing a CLASS BUY for the over-all market per my system, approximately 2-3 days after the reversal upwards begins there is a pullback which I refer to as the TECHNICAL DELAY DIP(DOUBLE BOTTOM). In most cases it pullsback to the beginning of previous upswing, although it did not do that in October. In light of my technicals and the TECHNICAL DELAYED DIP - Monday is up, Tuesday is up, Wednesday up or flat, Thurday down, Friday down. Interesting that my technicals are falling close to astrological trading, if Monday is the full moon.
Here are 3 examples during the past year after a substantial pullback.
APR'S CORRECTION - DOWNTREND ENDED 4/3, THEN UP 3 DAYS, THEN DOWN
AUG's CORRECTION - DOWNTREND ENDED 8/15, THEN UP 3 DAY, THEN DOWN
OCT'S CORRECTION - DOWNTREND ENDED 10/27, THEN UP 2 DAYS, THEN DOWN
The above was based on the DOW. The AUGUST correction was a 600 point correction from the intraday high to the intraday low. This correction started at 8035 on the DOW so it is about a 500 point correction if it does not drop further.
-Seeya |
