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To: Dale Schwartzenhauer who wrote (55685)7/5/2000 6:31:16 AM
From: long-gone  Read Replies (1) | Respond to of 116767
 
re: From the recent low of $268.40, we should see something around $410 - $415 [($339-251.80)x 1.618 + $268.40].

As I have said thousands of times, no form of T/A can work in a manipulated market. Please see the the quote from GS commodities lead. They might let us have $310 but at $330 they will do everything in their power to end the world. (But I agree with you, something "feels" better)



To: Dale Schwartzenhauer who wrote (55685)7/5/2000 9:06:23 AM
From: Little Joe  Read Replies (3) | Respond to of 116767
 
Dale:

The problem with Elliot Wave is that it is very subjective. Even the best are wrong and big time wrong. Bob Prechter called the top of the stock market years before it happened. On the other hand he has called market turns to the minute. He has been right on gold all the way - at least up to the last time I read a prediction, he was bearish. I don't know if he has changed recently.

A lot of these Elliot Wave theorists and cycle gurus claim to be so good, but why are they shlepping newsletters. If they could do what they claimed they would be clipping coupons and enjoying life. It reminds me of all of the Gann theorists who claim to understand him and his techniques. However, none of them can duplicate his results. hmmmm.

Live long and prosper,

Little joe