Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: SE who wrote (34600)	11/30/1998 8:49:00 AM
From: Bull RidaH	Read Replies (4) of 94695

Scott, The greatest probability i see for this 5th wave is that it terminates within a point or 2 of 1192 SPX. There's probably a 25 percent chance that we could go 4 to 7 points past that number, and a 10 percent chance that we go 8 to 10 points past. Anything beyond 10 points past, and we could be looking at the alternate scenario I've spelled out where this 5th wave that began on 10/9 extends on out, and becomes the largest wave in the 5 wave set that began 12/94. So my view of 1192 is that it is the highest probability area for the bears to halt their retreat, and once again turn and fight. After a 270 S&P point rally from 10/8 without more than a 2% pullback during the run, it seems like at a minimum, there should be a tradeable pullback from this area. At the maximum, it's lights out for the Bulls. Regards, David

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