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Non-Tech : Raptor's Den

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To: velociraptor_ who started this subject	7/29/2002 10:34:33 AM
From: velociraptor_	Read Replies (1) of 10157

while not favored, the upside was possible today. We should now be finishing up a zigzag off the low. Look for a top near where this leg is roughyl euqal to the first. We don't have far to go. I can see 3 waves on this move (a-b-c) with the c wave in progress and we are in the 5th wave of the c wave. In MSFT it is an ending diagonal. This should actually bring the daily into overbought now and relieve quite a bit of the oversoldness of the market from the last 2 months Everyone, inluding CNBC now thinks we've hit bottom. This kind of mentality should have everyone jumping in right here at the beginning for fear of missing the next big rally, but at the same time it should exhaust a lot of the buying power quickly as well.

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