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Strategies & Market Trends : Classic TA Workplace

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To: Jack of All Trades who wrote (9758)	8/10/2001 11:08:18 AM
From: AllansAlias	Read Replies (2) of 209892

From the wave desk, we've had a weak jump off the lows and are getting a dribbling pullback now. Always best to play for moves in 3's as that gets you into '3' waves and 'C' waves. This also ties into to the old adage "Never buy/sell the first break." So, we've had a little up off the lows, let's call it 'a', and now we are getting some weak down, let's call it 'b'. I expect a secondary push here and that's either a 'c' to complete the correction or a '3' if impulsive down is over. (Mind you, the way we've been getting moves in 3 legs both ways, we have not seen many 3's for weaks now. The bearish alternate says that the up we have seen is a correction with hard down to follow now. When I look at XMI I can buy that, but I think jello is a better bet. Anyway, I'm holding tight for a while.

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