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Strategies & Market Trends : Visit Mr. Elliott.
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To: skinowski who wrote (5)4/3/2001 11:31:14 PM
From: skinowski  Read Replies (2) of 656
 
The advantage of any sound technical system is that a) it allows you to arrive to a "theory" of what is most likely to happen, and b), it gives you the criteria and the framework relating to where and how to exercise your discipline. In other words, it gives you a chance of not staying wrong for too long. If different methodologies happen to lead to the same conclusion, I would expect that the odds of it being correct are greater.

As far as the waves are concerned, John Murphy said it best somewhere, that if he sees them clearly, he trades them, if he does not, he ignores them.

The NAZ is in a selling mania and probably not amenable to Technical Analysis. This is the reason I keep examining the DOW and the SP500. I think the odds are good that when those two find a bottom and reverse, they will provide leadership to the NAZ.

AK
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