Dale has asked me to make a comment on his last post.
I read thro the material carefully and also the material in the previous post of his.
This is all very interesting, but I also think that fundamentals also apply here.
That big bail out of the stock market is going to play a part.
I understand the stock market because 90% of my funds are in there.
These lines on the chart (attachments) look like a Gann fan.
This, and Elliot waves comes loosely under the term "prophets".
Now I understand that the success rate for prophets is only about 17%.
So it remains to be seen where all this is going to go.
I think the Dow is more likely to go up from hereon.
I will totally agree, however, with that decision to stay out of the market.
Not trading is a position, and one which is to be respected.
|