Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: ItsAllCyclical who wrote (57639)	12/30/1999 4:57:00 PM
From: Gary Burton	Read Replies (1) of 95453

By my count, the DJIA started Wave 4 down this afternoon and my hunch is that it could end at tomorrow's close if we continue down another 100-200pts--that would then set up a Wave 5 Last Hurrah Rally the first few trading days of January towards 11600ish----after which we should be on max alert for fireworks on the downside. This scenario implies no Y2K oil screwups on the weekend--or at least none that come to the public's attention until maybe 1-2weeks later.-----The alternate scenario is that the DJ stays roughly flat on Dec31 and then drops 150-200pts in early January on tech selling of tax loaded gains but bases out to launch the Last Harrah Rally into mid Jan----either way, the big cap indeces will likely start hard down around Jan 15-17 but have one last Rally in them before then, so oil disruptions are likely not in the cards.(since there would then be no last Rally)

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