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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: set who wrote (6071)	7/19/2000 6:00:13 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 7434

A Wave IV, as in Intravenous? See I do do not know nuttin about E-Wave. <See Prior Posts about "Dumb Luck"> Seriously, I would not know a 4th Wave from Adam. I just don't read the market that way. Got an interesting call from these folk, profittaker.com It was one of the calls that distracted me for a time earlier. Ever hear of Louis Mendelsohn? The name sounds familiar but I cannot place it. Seems like a lot of money for an ANN product. I sunk 30 months, much time, and a few bucks into an ANN. I tend to think they aren't worth the trouble. Have any experience with Neural Nets, or Mendelsohn in particular?

To: set who wrote (6071)	7/19/2000 7:10:55 PM
From: John T.	Read Replies (2) \| Respond to of 7434

Set, I saw where you discussed the wave count on the COMPQ, so I would like your opinion, please. I've got three theories for the current wave count on the COMPQ: Theory 1: Wave 1 began at the low on 7/6 and the COMPQ topped out in Wave 3 on 7/17. Since then the COMPQ has traced out corrective wave 4 down and is now ready to resume its upward rally to Wave 5, which should top out at or above Wave 4. The problem with Theory 1, is that under Elliott Wave principles corrective wave 4 may not overlap or enter the territory of wave 1. Wave 4 overlaps wave 1 by 6 points. Theory 2: Wave 1 began at the low on 6/29 and the COMPQ topped out in Wave 5 on 7/17. Since then the COMPQ has traced out all or part of a corrective ABC wave. The problem with Theory 2 is that under this wave count, wave 2 retraced more than 100% of wave 1 [by 18 points], which is also forbidden under Elliott Wave principles. The wave count under Theory 2, is similar to the wave count on the SPX and OEX. Theory 3: Wave 1 began at the low on 7/6 and wave 4 on the COMPQ was a small zigzag near the close/open of 6/13 and 6/14. This is observable on the 15-minute chart. This would put the top of wave 5 on 7/17 and it would not violate any Elliott Wave principles. Under this theory, the latest correction would be all or part of an ABC correction. I know this question is esoteric, but I'd like your opinion if you have the time. Thanks.