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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: John Pitera who wrote (54315)8/2/1999 5:02:00 PM
From: pater tenebrarum  Read Replies (2) of 86076
 
John, yes, the june 1 low is the starting point for the wave count. it is a remarkably clear picture, wave-wise. add to that the fact that now all the WS touting that could possibly be heaped upon a stock has been heaped on INTC, that the rally from the june low was on light volume, and you get a short candidate. i also had the rather dismal performance of MSFT at the back of my mind - the two are the monopoly combo, the one cannot do better than the other in the long run. i had puts on IBM, on which i took profits too early. but the action in IBM and GE, both bellwethers, is yet another sign that all is not well with the market. i have now more short positions than at any time this year, and i am fully prepared to sit out bounces - i'm convinced realman will eventually strike.
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