Slider sent me a pm, some time ago. A nice pm. Slider is basically a decent fellow in my book. He, like many of us, needs to spend less time trying to be a guru; and more time learning how to be one. I can honestly state that I have had the same problem, still do, and probably always will.
In his pm Slide indicated to me he was interested in EW. So am I, very much so. It consumes most of my free hours. So I think I owe Slide one here. And ... I think Slide is interested in learning. So am I.
I am finding out my EW was skewed by a hack, a hack who w/r to gold and the HUI has a terrible record. Since that record was obvious to see I decided to hit the books. One thing the 'good' books tell you immediately is that EW takes hours upon hours to learn, and then years upon years to learn better. It is much more than standing back and slinging 5 waves with a few abc's at a daily chart. I already knew this, as I have spent hours upon hours on certain things, and still had trouble getting them right. I could tell through learning the hard way that one had to build with the minuta, and slowly continue forward. Very few have the talent, let alone the patience. But the confirmation was nice.
And I could tell I needed to learn more, from other higher level sources. So I hit the books, and am still hitting them. I will probably never quit.
To emphasize again EW involves building a count from the shortest term possible to the long term, slowly but surely. A true building block approach. The fact that some choose not to do this is why their record stinks, and will never be anything better than hit and miss. Las Vegas approaches.
EW also involves an open mind, open to any possibility. Many on these board do not have that. Mainly because they actually know very little, do not want anyone else to learn more than they may know (which is piddly), and/or are Prechturites. Prechtur may have had a few moments, but his golden moments stink as well. Prechtur failed to evolve, as is necessary by the changing markets.
Now to get to the chase.
I published a count on the HUI a long time ago, as an idea. My idea was shot down by the SI EW gurus. Upon studying more detailed analytical methods w/r to EW, I have found that I was more than likely correct. My idea at the time was based on some observations and hunches, and building from the bottom. Not being learned enough in the methods at that time I ask for help, and of course was ridiculed. Bullied you might say. Well, the books I am studying have a lot more merit than some of the hacks on SI.
So ... shown on the attached is the probable '2' correction, in the HUI. Note the word probable, because one must maintain an open mind. There is nothing that odd about the formation shown, and one can find it readily within the proper literature, as a complete and proper pattern. Nothing more than a double '3'. AND ... no it does not appear the first wave ended where the hacks think it did.
It is almost always the case that a powerful 3rd wave will follow this formation, and an extension is possible.
ttrader.com
So what the f difference does this make, and who gives a rip?
It makes a lot of difference to get it correct, as it is of invaluable assistance as an aid to see into the future. If the groundwork is incorrect, the Vegas approach is probably of similar odds.
Assuming Slide lets me I will post here off on on, from now on. Slide has an uncanny nack to spot certain things. Hell he got me interested in gold, a long time ago. Who knows, maybe we can combine some things and make some hay. Or maybe he will tell me to take a powder. Either way, I'll live for another day. I may also choose to start an EW board only, at some point down the road. It will have strict rules, so there will be very few who post there. Very few.
One last thing I want to say.
The number focking gurus running around these days boggle the mind. Literally. I may be one of em, or not. This in itself is prime indication that the general markets are more than likely headed for some major top, in the not too distant future. Too much out and out bullshit, and way too many are chasing it. It all adds up to disaster. But ... we may and will likely have one hell of a bear roast before disaster happens. So beware, about the time all the gurus are buying in and all of their lapdogs following, the top will be near. The final episode in this bullshit business may take weeks yet, to play out. Then the shit storm will begin, and the shit will no longer be flowing downwind.
I will end with my fib charts. Two possibilities are present, the one on the left, and the one on the right. I have to study some more, to see which one may have most merit.
ttrader.com |
