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To: Crimson Ghost who wrote (55110)	11/20/1999 10:20:00 AM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

George--by my count, the DJIA has not yet seen its high on this move from 9975 and could go as high as 11550-650 area before a material correction sets in. On the other hand, it could also complete the necessary 5 wave sequence below the 11300ish current top and thereby 'fail' so to speak. (there are various sub counts at work here and it is hard to know which one is operative). A key support level is 10,843.....But as you likely know, in the latter stages of the DJ's move, the breadth gets worse and worse and the technical warning flags get more pronounced. They are going that way already in my view (poor daily a/d, increasing net new lows, very low put/call ratio etc). December could well be a down month into January with the high for this move in within the next 2 weeks...After that, elliott types will likely be calling for a larger downtrend to re-establish itself.Time to be very cautious on the general mkt in here as I see it.-----Maybe energy stocks will go counter-trend, although XOI looks as if it needs to correct a bit more at the moment. An OSX print below 77.40 next week would be a bearish sign-but I suspect it will instead hold near 80 and then turn higher-with the 95 area still possible on this move.---I think that NG is also near its low for this move.