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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (25916)	7/24/2000 10:46:27 PM
From: donald sew	Read Replies (1) \| Respond to of 42787

Paul, >>>>> How do you set your targets for moves out of wedges? The classic expectation would be for a minimum of a 100% retracement of the gains or losses made within a rising or falling wedge. Hence, the call here would be for about a 25% decline in the Nasdaq <<<<< If you have seen my previous posts on probability, I am a firm believer that calling big moves have no greater than a 62% probability, therefore I simply stay away from the big call. I am aware of the common measurement of wedges and other chart formation, which at times like this call for big moves. I just stay away from that and if you notice I normally dont set targets. I just use my short-term technicals to tell me when to get in and out. seeya