MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.38

+0.1%

Nov 12 4:00 PM EST

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To: James Strauss who wrote (48502)	4/28/2000 9:59:00 AM
From: pater tenebrarum	Read Replies (2) of 99985

James, in elliot wave terms this could be a wave 4 a-b-c type corrective bounce. if it IS a wave 4, another wave down can be expected before a good intermediate term bottom is put in. it's also possible that it becomes a more complex wave than a-b-c. btw, Tom Galvin's opinion that inflation is somehow good for tech stocks is, well, WRONG! <g> tech stocks are disinflation proxies...during times of accelerating inflation you want to be in basic materials type companies that are experiencing an increase in their pricing power. regards, hb

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