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Politics : High Tolerance Plasticity

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To: augieboo who wrote (17933)	12/2/2002 9:08:35 AM
From: pvz	Read Replies (1) of 23153

Augie, Thank you for that detailed reply. Your chart won't let me open it right now, but I will try again later. 1. What did you mean by 7. Pullbacks = 45% 2. <<QUERY: How are we to relate his data to a formation which appears on an INDEX and marks the transition from a bull market to a bear market? (In case you're wondering, I haven't a clue.) >> Perhaps E&M can give one here, from p76, which suggests to me that a bigger decline is probably more likely: The maximum indications are quite another matter, for which no simple rules can be laid down. Factors which enter into this are the extent of the previous rise, the size, volume and duration of the H&S formation, the general market Primary trend (very important), and the distance which prices can fall before they come to an established support zone. 3. Another paragraph which bears repeating imo: The odds are so overwhelmingly in favor of the downtrend's continuing once a H&S has been confirmed that it pays to believe the evidence of the chart no matter how much it may appear to be out of accord with the prevailing news or market psychology. Back to today's market, PVZ

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