Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (16461)	6/8/1999 9:20:00 PM
From: ynot	Read Replies (1) \| Respond to of 99985

can you recommend some reading for a neophyte stepping into qcharts for paper trading? thanks ynot :)

To: HairBall who wrote (16461)	6/9/1999 4:57:00 AM
From: j.o.	Respond to of 99985

LG, regarding the target for the potential 5th subwave down, it should go as far as wave 1 or 3 (or potentially further than either if we get an extended wave 5). Wave5= wave1 gives us a target of the old lows...1280. Wave5= wave3 gives us a target of roughly 1260/1265. It would be interesting to see what happens if we only match the old lows...many would perceive it to be a double bottom, and might buy into it heavily. In that case the ABC correction of the 5 waves down might take us up to a 61.8% retracement of the downmove so far (target just above 1340). Even a 100% retracement of the 5-wave downmove can't be ruled out, although it doesn't happen regularly. So the churning and burning is by no means over! This last upleg has made things very interesting. Best thing to do is look for a cleaner picture from some of the key stocks and try to take advantage of the moves there. I agree with you that one should keep a good eye on the "bigger picture" in the trendlines. There's lots of guidance there. Good luck today, j.o.