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wong wrote:
> Hi All:
>
> Here's a weekly chart of DOW back in the early 90s. Needless to say, what
> happened AFTER the last right bar (weekly) was still a HUGE upward movement.
>
> As I said before, I'm a very poor chart reader. To me, the formation at
> the right of the chart looks like a triple top formation - the last top is
> lower than the second one which is lower than the first one. It looks like
> the market is going to topple very soon...
>
> Well, I'm wrong, of course.
>
> How many of us here in RT can honestly say (without taking into
> consideration that the ultimate outcome WAS still an upward movement) that
> they can predict an upward movement from here on?
>
> 90%? 80% 70% 60% 50%
>
> 50% is like flipping a coin. No big deal.
>
> Another question: Knowing that the NASDQ has reached new high, how many of
> us have predicted it right and purchased stocks/calls and become billionaires?
>
> Regards,
>
> Wong
Greetings Wong:
Just my two cents...Yes, the Dow has made lower tops from the 1994 periods and
onwards. But this could be a wave 4 traingle in the making. If such scenario
materializes, this implies that we will still have the chance of capitalizing the
fifth wave. Regards.
Have a good one
Jeff Harteam
Hong Kong
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