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Strategies & Market Trends : Waiting for the big Kahuna
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To: William H Huebl who wrote (25651)8/30/1998 6:06:00 AM
From: Darrin Vernier  Read Replies (1) of 94695
 
William wrote:
"Darrin, More interesting stuff looking at 432 SMA:
SINCE LATE 1991, EACH AND EVERY MOVE TO THE 432 SMA HAS RESULTED IN AT LEAST A 10% MOVE UP WITHIN A COUPLE OF MONTHS!!!
In fact, the last time was the start of the move up in late 1994!"

William, a good observation on your part. What has me worried is the observation by Gann that the more times a zone is tested, the more likely it is to fail. You probably remember what Livermore said,"Get as close to the danger point as possible." Looks like a great place to be risk/reward wise with a reasonably tight upside stop. Let's make sure we don't get too identified with a bear in case that 10% rise occurs. We want to make money either way. : ) One last thought, we're down 18%. A 10% upmove ought to put us cleanly in the 50%-61.8% retracement area, don't you think? If it happens that way, there's our next danger point. Good trades to all.
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