Wal-Mart Message Board - Msg: 11683484

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Non-Tech : Wal-Mart

WMT 102.19

+0.6%

1:23 PM EST

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To: JakeStraw who wrote (944)	10/23/1999 9:59:00 AM
From: Robert J Mullenbach	of 1166

If you look at a monthly graph of Wal-Mart ( WMT ), since April of members.home.net this year, the action is choppy and developed so far in an down-up sequence. The nice thing about that is each leg is subdividing only in "three" components. Under the Wave Principle it can only be a corrective move. Thus the next move of consequence following a 3-3 structure is either another "three" of a "five" waves affair to complete this correction which once over will lead to new high. ( he was right on this, sometimes he is dead right. ) I show WMT tracing out a contracting triangle but for the next couple of weeks I don't think it really matters, WMT should experience more weakness. Time relationship between waves suggests weakness for another 5 weeks. Support is at 46 but moving below 39 will indicate a fall to the previous fourth wave of one lesser degree located between 26 and 35. members.home.net Wife just got a raise, and stock makes a new high, that is nice .

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