Bobby B,
I think the sphincter needs a shower, shave & haircut, and that we have seen the bottom of this move down.
Off the 10/98 lows, we had a large scale wave 1 up to April 13 '99. We completed a large scale wave 2 at the 2/25/00 low. From that point, mega huge wave 3 began, and 1 of 3 ran into the 3/24/00. the 2 of 3 correction has completed its ABC formation, with A of 2 finishing at the low on 4/4/2000, B of 2 on the high of 4/10, and Big daddy C of 2 backed that thang up into the 4/17 (last Monday)low. We are now in a 3 of 3 of 3 rally, with 1 of 3 of 3 of 3 completing on 4/19's high, and the pullback from Wednesday's high we're now in being 2 of 3 of 3 of 3.
Get ready for a rally of utterly magnificent proportions when 3 of 3 of 3 of 3 gets going, but only buy stocks that have cleared the highs they made last week... And only buy them if their key index has also cleared its high.
Regards,
Hittlefied |
