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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (59082)	11/9/2002 12:40:29 PM
From: Shack	Read Replies (2) of 209892

Well if the 'C' wave is done there, it hit a decent fib relationship at about .618 of the 'A' wave. Certainly one would expect at least another wave up there in the move off the recent lows in any event(assuming the first wave is even done). In the bull camp, we could put in an 'x' wave here but I think there is a good case from a valuation standpoint to take that pig to the 1996-1997 s/r at $10, also its book value FWIW. Especially if their financials continue in the direction of their recent quarterly report. In other words, bet on a '3' of 'C' doming down the pipe (probably starting from the low to mid 40's). We just have to get rid of some shorts first.

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