Re: [RT] next week (corrected GIF)

[ketayun <ketayun@xxxxxxxxxxxxx>]

Thank you Earl..Just hope they see your chart and turn downwards because my price of 1314 has already been exceeded and the current high is 1315:))

----- Original Message -----

From: EAdamy

To: realtraders@xxxxxxxxxxxxxxx

Sent: Sunday, September 03, 2006 6:27 PM

Subject: RE: [RT] next week (corrected GIF)

Wrong GIF. Earl

 

-----Original Message-----
From: EAdamy [mailto:eadamy@xxxxxxxxxxxx]
Sent: Sunday, September 03, 2006 4:23 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: RE: [RT] next week

Kate,

 

This may or may not be the top and 1314 is a good number. The 1317.50 is simply a greater confluence of resistance: 162% of the 8/10 low, 162% of 8/23 low, 200% of 8/29 low, 62% expansion from the 8/10 low (a fairly deep 50% retracement), and the trendline across the highs.

 

When shorting against a rising market I simply like to see it really extended. I may miss the entry however my risk is lower. Of course one has to balance the risk of loss with the risk of not making the entry.

 

Earl

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