Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: HairBall who wrote (21863)	7/19/1998 12:11:00 PM
From: bobby beara	Read Replies (2) of 94695

LG, >>>>I believe the Trans lead the way down in 87. Something to keep an eye on?<<< Yes, I believe thats something to keep a eye on and the condition of the Nasdaq a/d line and summation index. I think the Nasdaq summation will roll over before the NYSE and give an early warning sell signal. Momentum is the name of the game and momentum is very strong now. Selling is on weak volume and buying is on strong volume. I am using some e-wave and trading range targets (there is some Gann angles also) to say a top of 1200-1300. I am calling wave one the move off 6/16 lows which was 38 spx points. I'm calling wave top 3 @ 1167 7/8/98. If we pull back here to 1167 top of wave three for the Sadie Hawkins dance and do a 38 spx move because Greeny sezs something like Irving Fisher, that would put us @1205. Thats if wave one = wave 5. If wave 5 equals .618 of 1-3 we would be at 1224.50. We could have an extended wave 5 that could brings who knows where - maybe Bill's 1300. Of course all this is speculation and subject to interpretation. I would think we need a nice spike over that trendline that I posted earlier 5/96-8/97-4/98 make the throwever top. BWdik, imho, propeller beanie still in the shop -g-

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