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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: GROUND ZERO™ who wrote (36810)10/15/1999 7:51:00 AM
From: Tom Trader  Read Replies (3) of 44573
 
Morning GZ -- re the chart and its relevance to where we are

I have no idea whether the co-relation that the chart shows will play out or not. What I do know is that human behavior does not change -- and to that extent patterns do repeat. How often they repeat and the magnitude of the ramifications when the repetition occurs varies. I believe that is the essence of Elliot's view. While I have never been a subscriber to his theory because of the varying interpretations that result which makes it difficult to pin down anything with certainty, I do subscribe to the essence of his views on the impact of mass psychology on the markets.

>>I think we could still see DOW 9200-9600 by the end of this month.....<<

Given where the futures are right now -- down 14 points -- this may turn out to be one of the more prescient calls that SI has seen. I know that there are more than a few people on SI who have been calling for a large market decline ever since I joined SI -- the difference in your case is that you have been consistently bullish ever since I began following your posts.

>>Well, I have some grey hair, but lots of hair.....

Now that is a lot more desirable than no grey hair or and little hair:)

I have been trying to post this in response to your original message to me -- and it will not accept it.
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