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Strategies & Market Trends : TA- Advanced GET
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To: Matt Bowen who wrote (369)3/23/1997 3:14:00 PM
From: Gary Burton   of 1551
 
hi Matt-slow day today so I thought I'd reiterate past comments----when one is looking at stocks with low financial risk (little debt, lots of cash) and they have gone down a long way from the top-say at least 2/3rds down-it is more likely that the decline is tracing out one long ABC rather than the GET forecast of 1-2-3-4-looking for a 5. The actual format may well take the form of the A Wave being a 'small' abc which GET thinks is Wave 1),then a 3 wave X wave back up (GET thinks is a 2), then the C Wave breaks down into a longer and more pronounced abc-which happens to end just where GET is labeling the bottom of W3-it turns out that when one inspects GET's so called W3 ,-one suspects the telltale abc instead-- bottom of a sudden gap down is likely a (iii) but GET ignores, for example.--in short,there may never be the W4 rolling over into W5 that GET expects--the so called W4, when it starts, keeps going back up-- big picture-a 5w impulse down means a 2nd 5w impulse down is coming after a rally-but if a financially healthy company with good growth prospects is already down say 2/3.the chances of a 2nd 5w impulse to the downside (to complete a zigzag) seems less likely.---suggesting also that GET's first 5w count is wrong.The networking stocks for example aren't going to zero.? --too much prechter I know,--best regards
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