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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: The Ox who wrote (35127)1/15/1999 9:21:00 AM
From: Gary Burton  Read Replies (1) of 95453
 
Mike -I agree with Draculich and have been expecting a C leg back down to the October low of 7400, and perhaps a bit below, before the entire correction pattern starting from the july 98 top is complete.One doesn't correct a long 8 year Wave 3 thrust up from 1990 in only 3 months in my view. This is exactly the same type of pattern that i am seeing in the osx stocks---except in reverse. Whereas the DJIA does an A down to 7400 then a B back up to say 9650ish and now maybe a C down to 6700-7500 area, the osx goes up for an A last fall then down for a B, some to new lows, followed by up for a C. The C doesn't have to get to the top of the A for the pattern to be complete.
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