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Strategies & Market Trends : Tech Stock Options
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To: donald sew who wrote (49704)8/11/1998 9:33:00 PM
From: bobby beara  Read Replies (1) of 58727
 
Hi Donald, I know you don't follow E-wave, but I will tell you that today was a third wave sell-off (of wave 5 from the 7/20 peak)

Third waves are known as recognition waves.

The wave into last summer/fall was a third wave. This is where people with a bearish slant call a market top (like me) and John Q. Public recognizes that the stock market only goes up.

and this is reverse in a bear market.

This is where bulls recognize a bottom and I here a lot of bulls talk about a retest.

I don't see any support till 7800 which is the trading range target on the Dow break.

Oversoldness means diddly in a bear market. Bears are much meaner to bulls, then bulls are to bears.

yen broke critical support @146 and Nikkei broke 50dma. I think we retest or break the lows on the nikkei.

bwdik,
bb
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