The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: bruce-l who wrote (32413)	10/30/1999 2:25:00 AM
From: Doug R	Read Replies (2) of 79221

Bruce, Is your paste scan limited by the patented "56er prescan" criteria or is it all inclusive? The prescan is very float restrictive. In market situations like this, the first couple days of a new run up is characterized by monster activity in the huge capitalization stocks. And since it's only been 2 days into a very probable turn, I really wouldn't expect many hits. When the move begins to broaden out, you'll get your basis to complain that there's too many. That 14,200 target on the Dow is shaping up now. The interesting thing about the structure of the chart here as it relates to the activity at the bottom is............ (pause for emphasis)............... after the 14,200 target has been accomplished, another drop to 10K is quite possible. I'm not spefically calling a repeat of 10K...yet...but it's suggested in the chart as a good possibility in September next year. What I am calling is the 14,200 Dow target. You may have seen 14,2 mentioned here several times since before (and after) the breakout of the IHS that was built into the chart in '98. Previous to the breakout I had an initial target of 11,400 followed by a retest of the 10K breakout. We've seen that now and the next target projected by the chart is (and has been since the '97 bottom at 6927) 14,200. There was a respectable probability that 9500 would be seen recently but when I noticed that there were island bottoms seen in downtrending as well as uptrending stocks all over the place from the 2nd through 3rd week of October, I abandoned the 9500 camp and began the "scan hits every day" initiative. RICK S!!!!!!!! Scan hits as often as possible please!!!!! The Seattle Kill is needed here. And Bdog...or milesov...a daily 1.2 and +25 hit list would be greatly appreciated also. Do I have cahones or what??? nah...it must be voodoo. ;-) Doug R

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