Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Gary Burton who wrote (41390)	3/31/1999 9:49:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

<< Personally, I'm sticking with my 57-62 scenario. >> GaryB; So it aint so ! ---- OSX 57 -62 ? ......No Way Jose <VBG> ...time to get a new set of Mo-Jo Beads ! Elliot Schmelliot <VBG> ! ....take a look at them thar waves again ! Seriously; I think that this is where a somewhat ''pre-formulated'' technical analysis system has a hole. Stochastics, MACD, RSI, Bollinger Bands in my acknowledged limited TA experience; all act, react and predict, based on actual market action with no predetermined formulations. They do not treat all rallys, or all retracements the same. Doesn't EW kind of try to fit the markets action into an all ready predetermined formulation in predicting retracement, or Rally price targets ? It seems EW uses a 5 wave sequence most frequently; what happens when a Rally has 6, or 7 waves ? Isn't it virtually impossible in a choppy market like this, to determine where waves start and end, or what actually encompasses a series of waves ? Can you expand on your EW analysis of this present enviroment and perhaps if there appear to be any alternative EW interpretation/analysis of this present Rally . Thanks in advance - trying to keep an open mind ... I don't see 57 on the radar screen anywhere on any indicators I'm viewing.... PS; papaya is correctamundo - ie: << I thought end of quarter was the third day prior to the last day of the quarter for settlement purposes. ??? >>

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