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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: roymario who wrote (137914)	11/25/2008 10:22:24 PM
From: Canuck Dave	Read Replies (1) \| Respond to of 313057

I think wave theory has its place, and market instruments do seem to often turn at Fibonnaci levels (2/3, 3/5, 5/8...). But that said, when you do a multi-wave analysis, you can make your analysis fit almost whatever theory you want. There are also times when the economics overwhelm numbers. Last year at this time, as "smart" money, we should have all been buying long dated puts on financial shares. That was the winning trade. I thought gold would be a good proxy for making money off the unwinding of the credit bubble. Not true so far. So on balance... use wave theory but don't swear by it. Good grist for the mill in my opinion, but not a be-all or end-all. CD