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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Gary Burton who wrote (52245)10/1/1999 9:05:00 AM
From: marc chatman  Read Replies (1) of 95453
 
Gary, I am looking at a chart of FLC, and I'm straining to see the following patterns:

A possible 5 wave move up from the beginning of March to the beginning of May. (WAVE 1)

A 3 wave correction from the beginning of May to the end of June. (WAVE 2)

A 5 wave move up from the end of June until late August. (WAVE 3)

Now in a possible 3 wave correction. (WAVE 4)

Is this the way you would read it? If so, are there rules as to how far a WAVE 5 would take the stock? Also, after WAVE 5, what should be expected? A larger 3 wave correction? Or would that generally be the end of the uptrend, to be followed by a 5 wave move down?
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