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Strategies & Market Trends : Technical Analysis - Beginners

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To: Jack Landis who wrote (7964)	1/25/1998 8:15:00 AM
From: Chandler H. Everett	Read Replies (1) of 12039

Jack........good question.....I guess it is because I don't see a 25-50% correction occurring in INTC, or in the Market. I know that this flies in the face of Fib retracement thinking, but that is where I am. I (plus my family and most clients) rode out the 1973-74 decline and many other smaller ones in between and have done all right holding very good stocks like INTC, GE, AHP, MRK, KO and a few others. I guess if any given so-called long term stock was down over 10% AND THE MOMENTUM info was GETTING WORSE, I would probably get out then 100% and buy back in later. What I believe will work for me the best is the Elliott Wave picture on a Weekly chart, maybe even a monthly one. Any startegy is "for now", but I'm going to try this one for the time being. Thanks for the question....keeps me honest! BW Chan

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