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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: John Doyle who wrote (53428)10/22/1999 7:00:00 PM
From: Gary Burton  Read Replies (3) of 95453
 
John--My best guess on the DJ/SP is that this is a bear mkt rally that will peak out early next week, maybe Mon or Tues and then head down to take out the recent lows (eg 9976) to maybe 9800-9900 and THAT will be the end of the Correction.... EW wise, the S&P from the top for example is likley tracing out an ABC down then an intervening ABC up to a lower peak, then the final ABC down---we are likely in the B wave up of the 'final ABC down' in my view and such B wave is almost complete (it needs only one more dip followed by one last move higher in the sequence)----If however, the SP cash takes out 1344.26, my count is wrong. Until then, I am waiting for the last shoe to fall (aren't we all,grin)-----The bonds are near a peak, but face another blip up in yield into the 6.40's next week--bonds often reverse prior to stock reverses actually, rather than concurrently--my 2c---nothing like being in the minority here eh!
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