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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 31.73

+3.0%

Nov 21 4:00 PM EST

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To: elliottrules who wrote (15602)	5/15/2004 3:47:44 PM
From: Runomo™	Read Replies (1) of 206998

Hi elliottrules, Yes, I too learned of the irregular flat concept from Cheify two years ago when he talked about the Naz bubble rally as a mere B wave of an irregular flat...I loved that concept immediately because it went hand in glove with my larger bullish market outlook :) Believe me I am also disturbed by the fact that this 2004 decline happened in the context of outstanding economic and corporate news......the only explanation I can offer at this time is that the bear market experience ran so long and cut so deep that it's mindset remains well entrenched among analysts and investors alike at this time...I believe these signs of disbelief in Elliott terms is a psychology typical of second wave structures, am I right?... all bull markets, to the extent that they are bull markets, must have a period of "exuberance" where the market goes up rationally because of the matching great economic fundamentals. We never entered such a stage and last year's advance came in the face of fear and adversity....so when there is no recognition one has to believe that the bulk of the bull market move is yet to come...... If I may ask what are your wave counts for da sox starting from the Oct 02 bottom ? again TIA Mo

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