Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 53.91

+8.6%

Jan 9 4:00 PM EST

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To: Cheeky Kid who wrote (36513)	12/5/2008 10:05:54 PM
From: da_cheif™	1 Recommendation Read Replies (3) of 207724

elliott wave and fibinocci....one glance at the chart was all i needed to determine the depth of a decline........simply put the advance from the jan 07 low of4990 to the 146 hi was an easily identifiable B wave.....i got subs short at 144.......to determine the dept of the following C wave decline you simply measure a 75% retrace of the entire advance from the 1998 low of 10.35 to the hi.......and out comes 44 ........THE 40 LEVEL is the 78.6 retrace....below 39 next target is the 87.5 retrace at 27.40.......any advance from current levels shud stop at 78.50....thats the 50% support resistance line of the entire move....

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