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To: Shack who wrote (139825)1/2/2007 5:24:23 PM
From: Henry J Costanzo  Respond to of 209892
 
Hell..you know I am as tolerant...and forgiving...as they come..And of course, you are readily forgiven for such a huge 600 post lapse !!...LOL

<<...an ED should at least get fully retraced ...>>

I'd make that read...an ED usually, but not necessarily gets fully retraced. But you've..as usual.. put your finger on a weak spot of that "map". In addition, I would note another weak spot...retracing to the 4th of lesser degree could also involve going back to the start of the ED....in late Nov. Both had bothered me, but took the path of least resistance and dropped them...vbg

Both those could involve a pullback from here to below the 1380ish area...I was playing around with that last week, but dropped it, thinking a pullback to the 50d MA area would adequately meet the rules...and be large enough at this stage of the game..Will obviously need to do some rethinking...vbg



To: Shack who wrote (139825)1/2/2007 5:47:29 PM
From: Henry J Costanzo  Respond to of 209892
 
PS....

Just to redeem myself in your eyes re that ED pullback..here's a sample of what I was saying...Part of a post of mine to the Freep early last week:

<<..In any event, the correction should fall back into the area of the preceding 4th of lesser degree...1407-1377. I show on the enclosed chart a move to 50dMA support..at 1395-1400..... as possible at this stage..>>