Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Bull RidaH who wrote (34763)	12/2/1998 2:56:00 AM
From: Death Sphincter	Read Replies (2) of 94695

David....don't like the fit, don't like the look, don't like the violations......both the S&P and DOW violated the post rate cut spike highs, which were being counted as wave 1, this 4th was suppose to alternate with Oct 18th 'sharp' wave 2...but it is also sharp and bigger and not fitting profile of what i would expect.......it actually fits rather nicely as an alternating corrective with the Oct 6th- Oct 12th corrective.... OR... it really was over at 1193 and the decline to todays low was 'A' and this is 'B' up for S&P and DOW has started same or a 5 waver down.....next few days should certainly clear things up and confirm, options becoming limited EW wise.... if DOW fails to get into 9200's and turns down and goes below todays low it is confirmation to me of a sharp drop in progress... S&P has more flexibilty....we should, hopefully, know soon as to the glue supply.. ..the bad news is that it is very ligit to count this as a 5th wave extension, 1 of 5 started Oct 28..ended Nov 6th...2 of 5 ended Nov 12th...3 of 5 ended couple days ago....4 of 5 ended todays low....and this is 5 of 5 wave 3 (77 pts) was shorter than 1 (81)...so 5 has to be less than 3, but it could still exceed 1200 but not 1227 and DOW 9576....... this potential count has kept me from adding to the puts i have....it does not have to happen this way, but if it should occur i will load up big time on puts at those levels..... on the other hand....if this current move peters out now, or near the recent highs and turns down and goes below todays low that will be the confirmation that i am looking for....and there will be plenty of opportunity left just trying to keep an open mind and make you nervous and hate me alot carl

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