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Strategies & Market Trends : Waiting for the big Kahuna

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To: Death Sphincter who wrote (34060)	11/23/1998 12:37:00 AM
From: Bull RidaH	Read Replies (4) of 94695

Carliolli, You were right again. The corrective (declining) action that we experienced from 7/20-10/8 WAS INDEED part of the corrective pattern that began in the spring. That provides the final missing piece in the puzzle that is now a finished masterpiece. I believe the big count reads as follows: 1787-1929- Supercycle Wave 1 '29-'42- Supercycle Wave 2 '42-'66- Supercycle Wave 3 '66-'82- Supercycle Wave 4 8/82-8/87- Cycle Wave 1 of Supercycle 5 8/87-5/88- Cycle Wave 2 5/88-10/89- Primary Wave 1 of Cycle Wave 3 10/89-10/90-Primary Wave 2 10/90-1/92- Primary Wave 3 1/92-10/92-Primary wave 4 10/92-1/94-Primary wave 5 [END OF CYCLE Wave 3] 1/94-12/94-Cycle Wave 4 12/94-5/96-Primary wave 1 of Cycle 5 5/96-7/96- Primary wave 2 7/96-1/97- Intmdt. 1 of Primary wave 3 1/97-4/97- Intmdt. 2 4/97-8/97- Intmdt. 3 8/97-11/97-Intmdt. 4 11/97-5/04/98-Intmdt. 5 [END OF Primary 3] 5/4-5/27- Corrective Wave A of Primary 4 5/27-7/20-Corrective Wave B of Primary 4 7/20-10/8-Corrective Wave C of Primary 4 [END of Primary 4] 10/8-Present- Primary Wave 5--- The greatest rally of all time, and the grand finale to the greatest bull market of all time. The completion of this Primary wave 5 rally we're in will complete the Cycle Wave 5 begun 12/94, and the Supercycle Wave 5 begun on 8/82. But this rally is flying in the face of deteriorating earnings prospects and excessive valuations, a major no-no!! What is a risky and declining income stream from Corporate America Worth? 25 X Year ahead? No way dude. There are better things all over the place to put one's investment capital in. Who's gonna get left holding the bag? Clue: Primary Wave 5 should nearly equal Primary 1, which was 270 SPX points. That targets 1193 SPX, just above the summer all time highs. Answer: Those who don't cash out market and most individual longs between here and there. Regards, David P.S. Selling index calls month in and month out would be a heck of a way to play this game when we hit the peak, oui? P.S.S. Funny how the market will probably peak just as Gold bottoms in a wave 2 pull back from the early fall highs of $306 per ounce. So gold will be firing up in an explosive wave 3 rally as the market begins its descent.

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