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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (32476)	11/5/1999 6:55:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

>>>FWIW, Prechter now expects a wave 3 downwave for the Dow and SPX...<<< That is a count that i have been aware of but considered it less because of the large volume. Your right e-wave is subjective and can only be used in concert with traditional t/a. But when you see counts work time and again, you can't toss it. It's a little risky to step in front of the train here (but i just couldn't pass up that discount pricing in uspix today -ggg_), but besides the fibo 21 day we are approaching the fibo 55 days from the date change also and the volume may have expended the liquidity available for this rally. The 50 to 150 point moves in stocks & ipo's this week were extreme and seems to have any moves at any of the other spec tops beat to my recollection. Also impristines example of the mega $ call volume in aol is another picture of the excess speculation. I would have liked to see the vix touch the lower band for a top, but i believe so much of the fuel has gone into the nasdaq that they could't push the vix down that far. >>> Prechter has actually called every turn since the July top.<<< i'm a lot better at tops than bottoms, but i have been within 1-2 days of every major top since the july top and i think i pegged another one here, we'll know next week. EDIT: i just heard on TV the FEDS are trying to burst billy's bubble. another sign of complacency that they'll bid the daq up in front of this ruling. bb