Matritech (NASDAQ - NMPS) Message Board

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Biotech / Medical : Matritech (NASDAQ - NMPS)

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To: Tim Zhu who wrote (48)	6/4/1996 10:57:00 AM
From: Patrick Tang	of 849

Tim: The answer is yes and no. Elliott Wave has many followers and these followers have various ways to interpret it. If you read enough charts, you will have enough knowledge to message this theory to your own needs. To me, the most profitable way to ride the Wave is to get in at the phase 2 correction bottom, and sell out at height of the phase 3 expansion. I normally ignore phase 4 contraction and the phase 5 last gasp. You calculation is fine. My 1.62 to 2.62 factor is derived from trading experience because I have found most (70 %) stocks have moved in such a fashion in the phase 3 expansion. And once my objectives have been met, I will bail out with my eyes closed and ears shut. Why? Because I do not want the euphoria (at the top of phase 3) to influence me. Happy trading!

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