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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (159407)	1/15/2008 1:32:49 AM
From: Shack	Read Replies (1) of 209892

are you telling me that only direction matters...and that the new LEN low in Nov...by a substantial amount is irrelevant ??? No, exactly the opposite actually. Its the most relevant part of this discussion. The move to new lows on LEN tips me off that it was a (B) wave low since it was a 3 wave move and hence warns that any rally in LEN will only be a (C) up and subsequently that stock will make further lows. Since directionally they move in unison, it seems logical to assume RYL is in a similar count albeit stronger (no new low for its B wave). Now bedtime for me.

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