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To: Gary Burton who wrote (46538)6/16/1999 6:45:00 PM
From: marc chatman  Read Replies (2) | Respond to of 95453
 
I think you are correct, although I would be surprised to see the OSX move back up to 83. Today's bearish engulfing candlestick looks ugly and suggests a reversal. I see high 60's more likely than low 60's.

What has me puzzled is that several issues appear to be moving out of a consolidation period, and I expected them to break higher -- for example, FLC, PDE, VTS and CXIPY. But I don't see how these stocks can move up in the face of a 15% OSX decline, particularly FLC (not a bad effort from CXIPY and PDE today, though).

Next stop -- fill the gap in the low-mid 70's.




To: Gary Burton who wrote (46538)6/16/1999 10:56:00 PM
From: Roebear  Respond to of 95453
 
Gary,

Thanks for the EW 2c, although I hold your views in considerably higher value than 2c. Do you have a target for the next wave up, if this one turns out to test in the 60's as you expect??

Best Regards,

Roebear


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