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Non-Tech : Raptor's Den
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To: velociraptor_ who wrote (3001)8/23/2002 2:55:41 AM
From: rmullin6044  Read Replies (1) of 10157
 
Well thanks for finally admitting that you were wrong to some degree. But I think the real issue here is not about figuring out which wave we're in but more about understanding what might bring buyers or short covering into the market. As you've seen, by the time you figure out that you're in a sucker's rally it's too late and you're the sucker. I know that you hang your hat on ewaves but I also know that you try to evaluate many other influences to the market. By the time you figure out if the rally is corrective or not, you're underwater and waiting to break even when sentiment changes. Maybe we should store in our memory bank that the next time the Dow moves up 670 points in one day on record volume, someone might perceive that as capitulation and regardless of how bad the economy might suck it's time for short sellers to step back until the ewavers figure out which wave count we're in.

And I also know that some of your short positions are up nearly 100% since July 24th. It's funny how easily numbers can be manipulated to support one's position but any way you look at it, it's tough to be on the wrong side of a 1500 point move.

"It was also the high point of the 1st wave of the C wave in hindsight. If you went short the DOW lost about 450 points off that top, so the call wasn't necessarily wrong, but looking back, it wasn't THE top we were looking for."
Maybe that would have been an opportunity to get long or at least cover some shorts.

In conclusion, all this dialogue is 20/20 hindsight, much the same as Elliot wave analysis. It seems that it all becomes clear after the damage is done.
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