Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Death Sphincter who wrote (37349)	2/9/1999 9:04:00 PM
From: Berney	Read Replies (3) \| Respond to of 94695

Carl, Bang Bang - You're Dead John Murphy would disagree with you. In Technical Analysis of the Futures Markets (page 397), he states: "The most commonly used numbers in retracement analysis are 61.8% (usually rounded off to 62%), 38%, and 50%. Remember from Chapter 4 that markets usually retrace previous moves by certain predictable percentages -- the best known ones being 33%, 50%, and 67%. The Fibonacci sequence refines those numbers a bit further. In a strong trend, a minimum retracement is usually around 38%. In a weaker trend, the maximum percentage retracement is usually 62%." You see, when Bill pushed me screaming and kicking into the TA world about a year and a half ago, I took on the issue to the same degree as everything else in my life. Until the OEX breaks 600, I consider this just a normal market adjustment in a not unusual trading range. I'm not a bear or a bull, just out to make money. BWDIK and all other disclaimers. Berney