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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Bull RidaH who wrote (258)	2/29/2000 5:12:00 AM
From: robert b furman	Respond to of 33421

Hi David, Thank you for the read on you EW work.Your description is deja vu overall major market topping action.I have been using the Russell 2000 as a proxy for the overall market top. I do not yet think the top is in . Then I'm looking for a failed second top. I agree with you that this type of major top REQUIRES time to complete an orderly distribution of stock from the strong to the weak. Since all of my positional stocks were in the semi equip sector - they all have had strong moves up. I have exited all of them too early where the uptrends are still in tact but with much more whipsaw volatility. I expect these leaders to have a modest decline with a most attractive rally up to and thru this most recent high. This will be the perfect setup for a major short position - something I'm admittedly not good at. Most of my small stocks have not yet shown weakness working in. Two past work horses that are evolving into short term weakness are :tqnt and amcc. Just watching for now.Getting out early at the top so I can get my head screwed on straight about launching that harpoon for the first time. I want to throw right after the blow hole closes ( everybody needs a dream ) Hehehehe For what it's worth The russell 2000 first topped on 10/9/97,sank only to have a divergent final top at a higher price on 4/24/98. Plenty of time for the small dogs to all have their day in the sun. Thanks again Bob

To: Bull RidaH who wrote (258)	2/29/2000 7:08:00 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 33421

Good Morning David, Your post makes reasonable sense.. if you suspect the cash SP's to see 1000, what's your guestimate for the DOW and the NAZ for that same time frame... TIA GZ