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Strategies & Market Trends : The Player's Club -- Ignore unavailable to you. Want to Upgrade?

To: Arik T.G. who wrote (293)	11/5/1999 12:04:00 PM
From: Chip McVickar	Respond to of 11513

Arik, I agree this run is toast. But with one reservation......Microsoft's judicial announcement after close today. It either confirms or delay's the close below 1350 spx. Chip

To: Arik T.G. who wrote (293)	11/5/1999 5:03:00 PM
From: Bull RidaH	Respond to of 11513

Arik, It's possible this pullback today was the "C" wave in the corrective begun late last week. But we hit 1372, the target of the megaphone which began at the 10:20am low, and sprung back to 1385+ near the close. So This COULD be a pull back in the next leg up. Unless 72 gives way, I'm leaning towards the latter. Looks to me like wave 1 (haven't identified the degree)off the 10/18 low completed at the 10/29 high. Then we corrected the minimum requirement of 20% of the wave 1 move, and have rallied from that low (Tuesday). That rally was either a B of 2 rally, or the start of Wave 3. If 72 holds, i'd say it's wave 3. My cycle signals said to sell today's high, which is why I tried (unsucessfully) to sell out @ 93. But buys are coming in early next week. Regards, David