Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: RWS who wrote (52687)	10/8/1999 2:21:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

Another thing to keep in mind is that we are now at day 19 of the thrust drop--When the Big Rally got going on Mar 1, the initial 20 trading days were straight up more or less and only after that did the ragged choppy upward bias remainder of the ride set in to 91---Now, we get 19-20days of a thrust decline more or less straight down, so maybe the retrace from here is shallow and we continue to go down to a new low albeit in a choppy way from here on in. Somthing to think about, in the midst of all the news backdrop of "this is just a buying opportunity'. I am NOT saying I expect new lows sub 45, just that if it happened an EW type could look at the weekly chart and see how it could evolve, since the Rally off the 45 low is a large 3 wave move rather than a 5 wave. The fact that it looks like a 3 wave move has bothered me for some time now and has always alerted me to the possibility that all we saw off the 45 bottom was a larger B wave rally within the contect of the overall drop from the 140ish peak. So, if we DO go to new lows and shock virtually everybody, elliott will be able to tell you that "we told you it was a 3 wave rally and therefore a B"----I'll file this one for future reference, as I'm NOT projecting new lows here btw.