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

To: KM who wrote (40708)	2/18/2000 10:58:00 PM
From: bobby beara	Respond to of 99985

Truff, i've been trying like heck to get a wave count on biotechs. but the last run up has a pretty clear five wave move from the late jan low, it shows up best on HGSI, but you can see it on the btk. I could also make a case for this leg up from october in the fifth wave completion stage. The move over the last week has the look of a blow-off top (of which i can get a five wave count on the 15 minute chart) I had thought as late as yesterday that the biotechs could top out and somebody else could take over, but now it's looking to me like they were the final blast. i hope jerry didn't hold his bio positions over the weekend, he might lose more than wacko bits -g- >>>>Someone made the point that the biotech mania started this bull run and maybe it will end it? Interesting thought.<<< That is an interesting thought, because it is my belief that wave 5 started off the 1990 lows and thats where the bio' started there first mania. If this is true, i guess after 10 years of basing they'll be another internet mania -g- b