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Technology Stocks : Meade Instruments Corp MEAD
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To: Walkingshadow who wrote (122)3/30/2000 11:17:00 AM
From: Islander  Read Replies (2) of 175
 
You certainly have done your homework. A little too complex for me, but thanks nonetheless :) To me, being somewhat of an Elliot Waver, Meade looks like it has completed a fourth wave correction, has moved into the final fifth impulse wave higher, which is truncating (shorter than the initial first wave high) and is accompanied by decreasing volume. Fifth waves are followed by corrective waves downward which can also be reversals. Meade's PE has now almost doubled. The markets are generally eroding, especially the techs. I would not be a buyer here. Meade looks just about done, imho. I guess we shall see. Regards.
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