Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Hawk who wrote (17191)	4/24/1998 2:38:00 PM
From: RWS	Read Replies (1) of 94695

Hey, now that we're into a little humor, why not some EW laughs. The B wave up that I've been counting since last Thursday's low was one of the most dragged out achy breaky affairs I've ever seen. But it's over now and wave C down of IV is underway. We should soon see a bounce as wave 1 of C is ending and wave 2 starts. With the strength of selloff the wave 2 bounce probably won't be a very generous opportunity to buy puts. Wave 3 of C may be one of those Oct 27 type vertical drops, with 4 and 5 a bounce and retest of the low. C of IV will end this correction at SPX 1080-1090 unless folks start getting excited, then 1065 is my bottom line before big wave V up gets under way. I've just gotten in the black on my May 1100 puts which I bought on morning of April 21st. RWS

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