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Strategies & Market Trends : The Millennium Crash
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To: bobby beara who wrote (2885)7/6/1998 10:13:00 PM
From: bobby beara   of 5676
 
More wavy gravy:

The internet is where it's at, just dawn your propeller beanie and place those buy orders -g-

After looking over the charts, I believe that we are completing in the next day or two wave 5 of three, off the early June lows on our favorite Yahoo's. That would mean that we would be in for a 3 or 4 day correction in the nets (after this peak) before the next rocket ship to Yahoo 280.

Wave 5 of 3's are notoriously misread as peak 5 rallies. Would like to see less volume at the peak rally. XCIT had weak relative volume today and might be a good short candidate when the time comes.

This would fit the April pattern exactly, with a small sell-off here and a final pooooooooosh to the peak. If the timing was like April, that would put the market peak in late July. MSFT earnings are on the 16th, another important date to watch.

BWDIK I sold my KLB, my ELNK, my AMZN and Yahoo calls last week arrrrrrgh.

bb
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