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Strategies & Market Trends : Robert Miner www.dynamictraders.com
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To: Craig who wrote (17)1/6/1999 11:36:00 PM
From: Lenny Rosow   of 58
 
Craig, Your FLC(Falcon Corp) Elliott wave pattern is the 5 wave sequence of my larger degree wave 3. Notice how my wave 3 begins in May 1998 @ 34.12 and ends in October 1998 @ 8.25. This larger degree wave pattern began in October 1997 @ 42.81. Your points A&B in November and December look to be the first 2 waves of an ABC pattern within the larger degree wave 4. Tell me if I am correct, if wave C's price closes above 23.12, the larger degree wave 1 low,then we are not in the corrective wave 4 of the larger degree(wave 4 cannot trade into the price range of wave 1). If this happens then your points A&B from November and December were probably waves 4&5 of the larger degree and we would then be in a corrective ABC pattern of the larger degree. At this point I'm with you and feel we are in wave C of the larger degree wave 4. I do not have the luxury of the Dynamic Trader software program (hope to have in the future) so here are my larger degree wave 4 and minor degree wave C price projections from my good old calculator. Sorry no time projections, as stated before I don't have exact dates.

11.89 APP 0.618 W.A - WAVE C
15.06 APP 1.000 W.A - WAVE C
16.41 RET 0.236 W.1-3 - WAVE 4
18.13 RET 0.382 W.3 - WAVE 4
19.25 APP 1.000 W.2 - WAVE 4
20.20 APP 1.618 W.A - WAVE C
21.19 RET 0.500 W.3 - WAVE 3
21.45 RET 0.382 W.1-3 - WAVE 4
22.62 RET 1.618 W.B - WAVE C
24.24 RET 0.618 W.3 - WAVE 4
25.53 RET 0.500 W.1-3 - WAVE 4
26.05 APP 1.618 W.2 - WAVE 4
29.60 RET 0.618 W.1-3 - WAVE 4
32.43 RET 2.618 W.B - WAVE C

First price target range - 15.06 - 18.13
Next price target range - 19.25 - 22.62
Next price target range - 24.24 - 26.05

If the price turns south one tick below 6.75 then minor degree wave B or larger degree wave 4 are not complete. Is this the protective sell stop? Done waving for now. Hope you picked up FLC this morning!!Nice call!! If you can run the time targets on DT I would appreciate a post with the #'s - Lenny
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