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To: Crimson Ghost who wrote (38555)	8/7/1999 5:02:00 PM
From: Rarebird	Read Replies (1) \| Respond to of 116768

This gentleman, George, has been on the money since I began reading him. Wave Signals Newsletter By Mike Drakulich 8-7-99 AND THE BEAT GOES ON, AND THE BEAT GOES ON! And the Bears keep pounding a Bearish rhythm to the brain. Enough of Sonny and Cher, the "theme" I have outlined the past few months of a major stock market and U.S. dollar top continues to intensify and be reinforced by recent market action. As expected, commodities are also showing signs of a life as the CRB has rallied almost 8% off its July 13th bottom, very likely a long term low. The horrible action in the A/D line, number of stocks making new 52-week lows, utter complacency by the majority, and Ewave patterns, tell me the odds are VERY high that a top at least as important as last July has been seen, and there is a good chance this could top could ultimately result in a decline of at least 30-35% in the major averages, yes folks the stock markets mega tour of "Fantasyland" may finally be over. I have pointed out that the dollar and stock charts have literally been mirror images of each other over the past year especially, and since 1995 overall, those charts in my opinion are now telling the same negative story. That is not a surprise as the strong dollar had helped draw in funds from around the world to help propel this huge Bull Market to incredible heights. Now the trend there has turned down, just look at a daily chart of the dollar index and compare it to one of the S&P 500 index, pretty amazing stuff. And I have also forecast higher interest rates since early this year, looking for the long Bond to get to 6 1/2 to 7% by year end, we appear well on our way and within easy reach of that target. So, with two major props of the huge Bull Market leaving the arena(strong dollar and low interest rates), is it any wonder that the stock market is "feeling the heat"? There are still a few bastions of strength out there, but very few. The Chip stocks and a few other Tech stocks are doing well while Rome burns. Just take a look at daily and weekly charts of very important indices like the NYSE Financials, the Bank index, and the Transports. These indices appear in massive 3rd wave accelerations to the downside, which very well could be a precursor to a very big slide in the rest of the market in the next 2-4 weeks. Small caps are getting hammered as well, even with so many analysts "touting" why they should do better than the rest of their market. If I am right about what is unfolding here, and what is likely to unfold in the weeks and months ahead, there will be very few shelters from the storm! Cash, which everyone shuns will prove a great place to be for longer term investors who do not want to play the short side. For savvy traders willing to "play" both sides of the market, there are many ways to profit for what is likely going to be the most dramatic and volatile time frame since the Fall of 1987. decisionpoint.com