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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (18791)1/1/2005 5:19:26 PM
From: yard_man   of 19219
 
not an elliotician ... maybe that leaves me open to more possibilities than those which hold dogmatically to the rules of Elliot? I don't know. What I was talking about was more simple -- just looking at volatility for the last 3 years -- to 9000 wouldn't be a huge event necessarily -- 8k would be a biggie if it happened over short enough of a period -- that's all I was saying. Maybe your approach is more advanced.

Lot's of stuff tied to perceptions of the stocks now -- if we do go as low as 9000, I predict a hard recession -- I don't think we can turn down that far and not have a lot of people really scared who are more leveraged now than they ever have been before.

If we don't exceed 11300 or 11400 on the DOW by much early in Jan, I will short with a target of 9400 or so.
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