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To: John Doyle who wrote (53428)	10/22/1999 6:21:00 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

Gary, I pretty much agree with your take regarding the OSX, but I don't see sub 65 happening again. As for sub $20 oil I just can't see that happening with winter fast approaching. A reprint of the recent 20.50 area maybe. The OSX rally thus far has been pretty narrow and on light volume. That does suggest another pullback unless the rally starts to broaden. If it does then I think we're looking at maybe another reprint around 71-73 area at worst vs another reprint of 65-68 if it doesn't. The OSX is nearing it's 50 dma and so is SLB, but many other individual issues have quite a bit of room before they hit their 50 dmas. I'll be looking at the breadth of this rally.

To: John Doyle who wrote (53428)	10/22/1999 7:00:00 PM
From: Gary Burton	Read Replies (3) \| Respond to of 95453

John--My best guess on the DJ/SP is that this is a bear mkt rally that will peak out early next week, maybe Mon or Tues and then head down to take out the recent lows (eg 9976) to maybe 9800-9900 and THAT will be the end of the Correction.... EW wise, the S&P from the top for example is likley tracing out an ABC down then an intervening ABC up to a lower peak, then the final ABC down---we are likely in the B wave up of the 'final ABC down' in my view and such B wave is almost complete (it needs only one more dip followed by one last move higher in the sequence)----If however, the SP cash takes out 1344.26, my count is wrong. Until then, I am waiting for the last shoe to fall (aren't we all,grin)-----The bonds are near a peak, but face another blip up in yield into the 6.40's next week--bonds often reverse prior to stock reverses actually, rather than concurrently--my 2c---nothing like being in the minority here eh!