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Strategies & Market Trends : The Millennium Crash

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To: Arik T.G. who wrote (2892)	7/9/1998 6:34:00 PM
From: bobby beara	Read Replies (2) of 5676

Bear Alert (again -ggg-) get out the propeller beanie! I can count a five wave pattern in the NDX, which may have completed intraday today. Do we have a correction in an ongoing bull market or is this IT???? We hit the inverted H&S OEX target today of 568-576 (570 intraday today) The Dow has one of those cup patterns (kind of like and inverted H&S) and reversed big today, failing to go to new highs at a critical juncture and join the NYSE, SPX, OEX, NDX, COMP. I'm not so sure of the Dow's importance, other than the psychological importance (and that is critical in a mania) Intel breached downtrend line today (throwover bull trap?) Internets definitely looking like a five wave completion (darn I wasn't watching them today, was long Dell and Intel, closed both - was stopped out of my xcit puts yesterday - double darn) iqc.com Lycos did a fib retrace of .618 of this move from early June and is sitting on wave 3 top. Will be interesting to see if that support holds manana & where support is?. This is a CHANGE IN TREND, selling on the Yahoo positive earnings news and split.

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