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Vertex Pharmaceuticals Incorporated Message Board

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  • ewave535 ewave535 Dec 22, 2005 12:12 AM Flag

    MRK Wants to ACQUIRE BIOTECHS -- VRTX?!

    stymie said it well, and actually, it is that basis (measuring human emotion, fear, greed, etc.) which is the basis for Elliott Wave principal. My journey on TA started with learning the very basics-various indicators, and gradually moving up the ladder to more difficult forms. Funny thing is, I was not always a big proponent of TA-until I started studying that, that is.
    Everyone wants to buy low and sell high, that is one of the reasons it does work-human emotion. Some say it is a self-fullfilling prophecy-traders identify levels, therefore, act on them. For example, when an average drops to its 200 day moving average, traders see that and buy in anticipation of at least a bounce. Either way, for whatever reason, it does happen.

    You want a good example of Nature's law in the markets? Look at the initial crash of the Nasdaq off of its 5132 high. The first retracement came within 2 points of a perfect .618 retracement, known as phi, or the golden ratio. That ratio was used to build the great pyramids in Egypt. The next wave down came in 3 waves that were all roughly equal in length. You can't make this stuff up.
    BTW, the S&P is currently having trouble at the .618 retracement of the bear market at this time.
    My apologies to the board for going way off topic here.

 
VRTX
96.31-0.89(-0.92%)Jul 21 4:00 PMEDT

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