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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: AllansAlias who wrote (14614)8/10/2001 3:56:17 PM
From: jeffsthoughts  Read Replies (1) of 52237
 
Don't get me wrong - no offense intended. I was generally referring to Prechter and the prior post indicated many people were looking for the same levels he was. I myself, as a relative newbie, thought he was on to something and was looking for a rally with many of his arguments, so I am guilty. Thankfully though, I figured out that he is just one guy and the software would be less biased. I personally think there is value in Elliott Wave but like you, do not get religious about any one particular TA indicator - because none of them work all the time.

The reality is that Elliott is just a way of seeing what happened and the predictive value is limited, given the number of counts that can be produced. The real value I have derived from it is that it convinced me that markets don't move in a straight line. Of course, I knew this, but wave patterns at least have helped me to avoid getting shaken out or holding on too long.
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