SMN - Chart, page-885

Patong,

I have neither the time nor inclination to become involved in a juvenile contest to prove or disprove the effectiveness of different means of trading.

I have been using Elliott Wave & Fibonacci numbers for 33 years & am aware of their effectiveness. This method of trading works well in certain market conditions, with certain indices, certain stocks but not all.

The beauty of the method is that it is up to the individual to interpret the mood of the market & understand when it is time to trade.

These days I have portfolios both in my self-managed super fund & in my own name that I am happy with & only make an occasional trade. I am not a short-term trader as I not only do not have the time but believe longer-term investing is more reliable.

I once was trading the SPI & built my position up to a point that it was worth $1,000 per point. That is 40 positions @ $25 per point. With the gyrations in the market these days it is impossible to be awake 24 hours per day to control your positions as the SPI trades during the night as well as the day.

If you cannot comprehend the complexity of other people's methods of reading markets then I suggest you refrain from criticism.