Ask DrBob Message Board - Msg: 16069883

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Strategies & Market Trends : Ask DrBob

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To: exeric2 who wrote (39739)	7/13/2001 2:20:56 AM
From: Drbob512	Read Replies (2) of 100058

exeric2: I wanted to let you know that I've enjoyed your postings. You have added a lot to this board. I agree with you that a retracement over 61.8% will make the previous trend suspect. I am using the 2328 high and the 1934 low because the trend has been down since May. We also have the trend from 1619 to 2328, and a much longer trend from 5132 to 1619, if you wish to do those retracements, too. Perhaps we are finally making a bottoming formation, but we may need to go below 1934 before making a more tradeable bottom, or a final bottom. Personally, I like to wait for an extreme oversold condition before going long in any major way, when there doesn't appear to be any urgency to jump in. We shall see...

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