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

To: HairBall who wrote (50129)	5/10/2000 1:36:00 PM
From: the Chief	Read Replies (1) \| Respond to of 99985

Hi LG...great thread. 3360 is a guess. I base it on the 'bungie cord theory" which of course if I told you how it worked I'd have to kill ya!<ggg> Mommnentum is what I deal with on a regular basis, it is my livelihood. I approximate the speed of the downdraft and some key resistnace levels and then apply the bungie cord principle. 3400 is a key "physcological level for Nas, as much as 3600 is. Because I "believe" the conspiracy theory" of brokerages/funds, I believe that this latest retrace cannot afford to touch numbers that technically could touch off signals and discussions of a possible breach of resistance and "pending crash" 3360 is just above the numbers you have "so eloquently stated"<ggg> which was the reason for the pick. It comes close to but does not violate, and therefore the bear tacticians are left wondering if they have a broach or not, the ensuing turn will be enjoyed by all.....As we speak I am buying in. Investor capitulation....bah humbug.... Signed the man with no brain!!!!

To: HairBall who wrote (50129)	5/10/2000 1:37:00 PM
From: Death Sphincter	Read Replies (3) \| Respond to of 99985

83.3 is not a Fib.....Fibs are derived by adding the previous number of the sequence to the existing number.... they are a factor of 1.618 of the previous number. Fib # .146 x 1.618 = .236 .236 + .146 = .382 (.236 x 1.618= .382) .382 + .236 = .618 (.382 x 1.618 = .618) .618 + .382 = 1 (.618 x 1.618 = 1) 1 + .618 = 1.618 (1 x 1.618 = 1.618) 1.618 + 1 = 2.618 (1.618 x 1.618 = 2.618) and so on whole numbers 1,2,3,5,8,13,21,34 and so on 13 x 1.618=21.....21x 1.618=34....34x1.618=55 and so on .50 and other retrace levels are valid market retraces but are not Fibs.......and there is a dead Italian rolling in his grave full of rabbits when they are called Fibs and if John Murprhy wants to call .50 a Fib....then he is telling a fib do I smell bad? DS