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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (77334)	7/14/2003 7:29:44 AM
From: skinowski	Read Replies (1) of 209892

Nice post, Freep. I must run now and only have a few seconds for a brief few words. THis was one of these rallies that break a lot of "rules" and take many indicators to extremes. Things that more often than not work - this time haven't. It was time for Mr. Market to teach some people a lesson (including your's truly) - and he did what he had to do. One gets tired of being wrong, even if in terms of actual dollars the impact is relatively small. In the meantime, we developed here a "subculture" where one "must" be right. Perhaps, it would be more productive to focus on good thinking and good trading - these are more important over time. Oniscka (see Juergen's post nearby) thinks that we are in the last legs of a 9 month three wave advance. He maintains that this is likely to be only an "A" of a larger formation, whereby the next stage would be a multi-month 3-wave decline ("B"?) - apparently to be followed by an impulse up. Interesting theory, worth watching. Somehow, it does appeal better then an immediate hard down to deep new lows, called for by Prechterians and others.

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