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To: Jon Koplik who wrote (125013)	11/3/2002 8:14:12 PM
From: Art Bechhoefer	Read Replies (2) \| Respond to of 152472

If you put all your chips on black at roulette, one of these days it will come up black. Prechter puts all his chips on the bear market, and what do you know, he called it right in 1987, but has been rather off base since then. The problem with the whole article, and with guys who base their predictions solely on psychology, rather than factual events, is that they tend to draw parallels when few parallels exist. I still believe that if you're going to get anywhere predicting where stocks are going, you have to know the individual companies well and not depend on waves, technicals, or other non-fundamental data. Art