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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (42973)	8/12/1999 4:48:00 PM
From: Terry Whitman	Read Replies (1) \| Respond to of 94695

That post looks like sour grapes to me. Kinda the way I felt last fall when the SURPRISE rate cut hit and I was short. Like da Bulls said then -Don't fight the FED! hohoho

To: GROUND ZERO™ who wrote (42973)	8/14/1999 10:29:00 PM
From: marcher	Read Replies (2) \| Respond to of 94695

GZ, seems you have the biggest crystal ball of all--congrats on the calls! I'm hoping you might comment on the following (posted on mda by benkea) reference to Fibonacci analysis: >>From the Elliot boys: The Bottom Line...The Dow appears to be tracing out a zigzag correction from the recent 10549 low (Aug.10), which we label Minor wave 2 or B. My confidence in this pattern is only tempered by the fact that the New York Composite looks like it may have traced out an impulse wave to today's high (possibly wave C of an expanded flat correction?). "Nonetheless, the Dow has now carried to a typical Fibonacci retracement (62%), satisfying the necessary subdivisions and requirements for a completed correction." There is also an area of resistance right above the market in the 11004-11031 region, where wave 'c' is 62% of wave 'a' within the zigzag pattern, and a previous second wave high. "It has certainly been a quick retracement, as the initial impulse wave down lasted 116 hours, and the correction so far has lasted 23 hours, shy of a Fibonacci relationship of .236. That relationship would be satisfied near 11:30 AM Monday morning, if it has any meaning." Also, short-term momentum oscillators have yet to turn down, allowing for more of rally if the market so chooses.<< tia --Marc