Ahh Canada - 2 out of 3 ain't bad Message Board

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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad

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To: Cush who wrote (1580)	3/25/2001 1:14:37 PM
From: Shack	Read Replies (3) of 5144

Cush, not too much to add. I did a quick wave count (which I am waiting for AllansAlias to grade me on). Here's my chart: dshacket.homestead.com The important thing to know about waves is they come in 5's. We appear to be in a 3rd downwave coming off the Jan 31 high (where I've marked the completion of Wave 2). This 3rd wave does not appear to be done (we need to have 5 waves within this 3rd wave). However it is quite possible that this little rally which started Thursday is the (4), which means it could last a few days, or just be more of a consolidation before the final (5) down and the completion of Wave 3. This is all subjective and one could also argue that the Wave 3 we are in is done and we are beginning a Wave 4 rally now. BWTFDIK. One thing abou this chart, the only buy signals I am getting are the Stochastic (on a 8 period setting) and the bullish candlestick formation. If one were to go long here (which isn't THAT BAD and idea), a tight stop is in order.

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