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

To: AllansAlias who wrote (14614)	8/10/2001 3:56:17 PM
From: jeffsthoughts	Read Replies (1) \| Respond to of 52237

Don't get me wrong - no offense intended. I was generally referring to Prechter and the prior post indicated many people were looking for the same levels he was. I myself, as a relative newbie, thought he was on to something and was looking for a rally with many of his arguments, so I am guilty. Thankfully though, I figured out that he is just one guy and the software would be less biased. I personally think there is value in Elliott Wave but like you, do not get religious about any one particular TA indicator - because none of them work all the time. The reality is that Elliott is just a way of seeing what happened and the predictive value is limited, given the number of counts that can be produced. The real value I have derived from it is that it convinced me that markets don't move in a straight line. Of course, I knew this, but wave patterns at least have helped me to avoid getting shaken out or holding on too long.

To: AllansAlias who wrote (14614)	8/10/2001 4:26:59 PM
From: TechTrader42	Read Replies (1) \| Respond to of 52237

It all depends on the analyst, AllansAlias, and you're among the best. Your posts and analysis are excellent -- always clear, helpful and insightful. I do know of other good e-wave analysts. I'm just frustrated because I've failed to unveil the secret of the logarithmic spiral. It keeps me awake at night.

To: AllansAlias who wrote (14614)	8/10/2001 4:40:13 PM
From: donald sew	Read Replies (3) \| Respond to of 52237

AUG 10 INDEX UPDATE -------------------------- Short-term technical readings: DOW - midrange SPX - lower midrange, imperfect HAMMER OEX - lower midrange, imperfect HAMMER NAZ - lower midrange/borderline oversold region, imperfect DRAGONFLY DOJI NDX - lower midrange/borderline oversold region, imperfect DRAGONFLY DOJI VIX - lower midrange(inverse to market) NAZ NET NEW HIGHs-LOWs - negative 30 Yesterday I got borderline CLASS 1 BUYs and the overall market closed with DRAGONFLY DOJIs/DOJIs/SPINNING TOPs, and today I again got intraday CLASS 1 BUYs with DRAGONFLYS/HAMMERs. Thats 2 days in row with CANDLESTIC reversal sticks. Its not a firm candlestic reversal pattern, but does give some positive hints for the short-term. 4 indices did produce LOWER LOWs this week, NAZ,NDX,BTK and the RUT(mentioned by pm to me). They did bounce back immediately and did not close at the intraday lows. I have a basis rule, that once a lower low is set, even if its only on a intraday basis, it is likely that those levels should be revisited. As mentioned previously, I am not expecting a strong rally just a bounce to fulfill the effects of expiration week. The MAX-PAIN on the QQQs is around 42 so there may be a little upside pressure on the QQQs to get back around 42; it closed at 40.32. The MAX-PAIN on the OEX is at 615 and it closed at 611.4, so there should also be a little upside pressure. Im not talking about a strong rally, just enough for the big players to unwind their positions. The NAZ NET NEW HIGHs-LOWs closed at negative 30. Per that bearish RISING WEDGE, the HI-LOs is near the lower trendline of that RISING WEDGE. I would consider it a strong negative if it breaks the WEDGE to the downside, since it would be a hint that the real selling may ONLY be starting. So the NET NEW HIGHs-LOWs need to improve real soon, almost immediately. stockcharts.com In both our website account and my personal mutual fund account I close my USPIX(short-NDX) positions, and since I had established an even hedge previously, I am now letting the UOPIX(long-NDX) ride naked. Once the NDX gets back to the midrange/upper-midrange I will start to establish small short-positions, unless I see significant positive hints.