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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?


To: Gary Burton who wrote (53467)10/24/1999 12:39:00 PM
From: BigBull  Read Replies (1) | Respond to of 95453
 
Gary, I've always wondered how Elliot deals with trading ranges. During trading ranges/consolidation phases "V bottoms" are called for, almost by definition. In other words, complex bottoms are not given time to form, but there is not sufficient buying power to drive past the old highs. Is that not a possibility here with oil?

I'm not saying you are "wrong". Just suggesting other possibilities to the scenario you've sketched out. Nobody expects 18 oil, but then again not too many expect 30 either.

Wrt. Bear Market. IMO we stand at the inflection point. I still stand on my argument for a world wide economic boom, and that the worlds stock indices stand poised for another leg up. We will all know in the next few weeks whether I'm right or wrong. I'll bet ole Winkman will be watching. ;o)
Isn't Greenspan the ultimate contrary indicator? What happened after the infamous "irrational exhuberance" speech?

CAC 40 + DAX

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Bovespa + MXSE(Mexico)

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Sensex + Kospi + Hang Seng

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