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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 685.66+0.2%Dec 5 4:00 PM EST
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To: pater tenebrarum who wrote (22016)8/4/1999 11:29:00 AM
From: HairBall  Read Replies (1) of 99985
 
heinz blasnik: I stopped and took the time to read your update. I have been running behind all morning. I expected this correction to firm up a little higher. It did not...when that happens, I always go to plan B, I closed my positions ASAP. It is called stop loss. Now that does not mean I was in a loosing position, but profits where diminishing...<g>

Now, per my aggressive/conservative nature, I will wait for the Market to reveal to me that Favors is right (per your update) and the bottom is already in for this correction.

As you know, I follow no "I get paid for my stuff" gurus, although I do respect a few of them. I prefer to do my analysis in a vacuum. I don't want to be persuaded. This has worked well for me for over a decade. Time will tell on this move, as it has been the hardest call for me to date.

I did get the turn, but that is the easy part. Determining or anticipating the magnitude is "really" the hard part and always will be...<g>

I will continue to follow my "own" system, as it is trend following with the predictive nature in the chart formations and forward looking the indicators.

So close will continue to be (have to be), good enough for me! <g>

Regards,
LG
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