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Strategies & Market Trends : gem-x's incredibly accurate Elliott Wave forecasts.

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To: gem-x who wrote (1015)	8/28/2001 8:33:40 PM
From: bobby beara	Read Replies (1) of 2290

my feeling is also that we have entered into the final leg down, but as far as tagging a bottom - i don't know, sometimes these legs like this looks like they are completing and they just extend, the wave down from 2/1/01 was like that, we have come off a giant bubble and now the final cash strapped dot.bombs that are still hanging on are going into delistoland. there has been a tightly wrapped triangle out of the 7/9 bottom, and we have moved out of that and turned the breakdown into resitance today. a lot of the big caps have bearish island reversals, like msft and intc, dell and orcl have gapping strong moves down out of triangles, these charts have bearish implications. i suspect that if one or two of these big caps breaks the april low it may take some of the other's with it and the remaining tech funds will throw in the towel. i would be hesitant to call a firm bottom until we see some real fear in the media, which was evident at the march bottom, but not now. b

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