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To: Broken_Clock who wrote (55107)11/20/1999 12:01:00 AM
From: Gary Burton  Read Replies (2) | Respond to of 95453
 
Papaya--ok here goes--When I look at a long term chart of SEI, I see a stock that appears to have gone from 30c to $26ish in what appears to be an A-B-C fashion----Then it started to correct that and thus far appears to need one more down wave below 5 to complete the correction. The Retrace from the top is EITHER 1) an ABC down to 8.69 in 1998 followed by an intervening rally back up to 18ish in 99 and then a second ABC down, where it is only near the end of the A part only (ie a B rally then another sharp selloff below 5 to complete the C)---OR---2) an A down to 13 in 1998, then a B up to 19 and finally a 5 wave C down, of which it has only near completed the bottom of 3 with a 4 up to peak out below 8.69 and then a final sharp selloff below 5 to complete the 5th-------If it is the first alternative, the upcoming B rally could go to say 10-12 before the roof fell in again--whereas if it is the second alternative the rally will peak out below 8.69 and then go below 5-----bottom line, I wouldn't touch this stock since I'm not at all comfortable with how high the temporary rally might take it before it collapses again.------(if I don;t see a clear EW count that looks positive to me, I won't buy the stock and will instead go on to another. In SEI's case, I even see more trouble later on, so this one is a no/no to my way of thinking--far other fish in the sea without worrying over this one as I see it--my 2c fwiw