Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: ViperChick Secret Agent 006.9 who wrote (19498)	5/29/1998 7:27:00 PM
From: Bull RidaH	Read Replies (1) of 94695

Lisa, Thanks for keeping us posted on where the 5 day Trin stands. It means we are within days of a bottom, and it also means it's safe to step in and start buying for the turn back up ONCE WE SEE THE FINAL CAPITULATION. I believe that will be marked by a negative tick reading over -1500 and vix intraday preferably over 28 or 29. I suspect we'll see these numbers on these indicators as the S&P futures approach 1067.50, and it will probably happen on Monday. That's why I said I will cover all shorts in this area, and step into 50% of the core long holdings I will establish. I will finish with the remaining 50% when I am assured by my fellow EW gurus (Carl & RWS) that we have seen the end of the 5th wave down of C. Keep in mind that the 3rd wave (projected to see 1067.50) could set a deeper low for the move than the 5th wave does. The McLellan Summation Index fell to around -300 today, so that's one more feather in the cap that we're approaching the bottom of this corrective phase. Regards, David

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