Classic TA Workplace Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Classic TA Workplace

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Shack who wrote (3716)	5/31/2001 10:47:47 AM
From: Henry J Costanzo	Read Replies (1) of 209892

Good morning... 1. You're right - my scenario assumes bear market ended with a major A-B-C Wave IV on Apr 4. That's per my long-term "analysis" (my post# 2683 of May 16). So, I would think we're now in Wave V leading to new highs - but a fifth wave can be sluggish and take a long time. Considering that IV lasted more than a year, that could mean a new high over the next 18 mos-2 years. 2. But I don't think that's the only possible count - an alternative could label the April low as a major A, and we are now in a major B, which could retrace 50-62% of the Mar2000-Apr2001 decline. If I'm not mistaken, a B wave can take the form of a 5-3-5, so that would not be inconsistent with my counting 5 waves up from Apr4 to Apr20. 3. Thanks for posting your chart - believe I can now follow your thinking better than before. 4. Should clarify that I am a swing-position trader, with an outlook of days and weeks, and no day-trading. Right now my general posture is to "buy the dips", since any way you slice it, I think we have a ways up yet to go.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next