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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Jim@Inland who wrote (67359)5/15/2002 1:36:59 AM
From: Jim@Inland  Read Replies (1) of 99280
 
The reason I ask is because of the following:

1. From the shooting star high established on January 9th, (2,098 intraday) we are still clearly in a down trend.
2. From the shooting star high established on January 9th, we dropped to 1696, and then rebounded sharply to 1946, almost an exact 62% retracement.
3. Then from 1946, we sold again over time to a low established on April 11th at a level of 1724. The subsequent rally to 1832 was again, an almost perfect 50% retracement. That was Hal's last buy rec. That Hal is gone now I believe.
4. Today we saw 1722 as a high. That's up 162 points from the low of May 7th at 1560. Almost a perfect Fib retracement of 62% Not exactly but close enough.

Now Hal gives a buy rec again after drawing the standard error channel from April 17th, and clearly showing the close above the upper channel line? Why not draw the standard error channel from the beginning of the decline at January 9th? Or is Hal just looking for a reason to believe?

tia

Jim
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