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Strategies & Market Trends : Raptor's Den II -- Ignore unavailable to you. Want to Upgrade?

To: JOHN W. who wrote (1166)	5/28/2003 12:57:13 PM
From: velociraptor_	Read Replies (2) \| Respond to of 3432

I have been wrong in the intermediate picture and there is no denying that as the rally has gone further than anticipated. I have not denied anything. We have made adjustments along the way. However, the bigger picture remains and this rally is expected to fail. The move off the low has been difficult to interpret with the C wave extending, the 3 of C then extending and now instead of a wedge, we have a channel. The degree of overlap is high and there are 3 wave sets everywhere. This allows for a lot of variability as the rules for 3 wave sets are less stringent than for impulses. As a result, predictability tends to be less accurate for corrective patterns. Also, you never really know the true nature of a pattern until it is about 3/5 - 2/3 complete so expect adjustments along the way.