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

To: Crimson Ghost who wrote (54477)	6/17/2000 6:01:00 PM
From: Gary Burton	Read Replies (2) \| Respond to of 99985

George--re the Financials---with respect, I strongly disagree. Since the Low in early Nov 1990, the NY Financial Index has been tracing out a textbook 5 Wave sequence where it finished Wave 1 in Oct1993 at +129%, then retraced 34% of the gain to the bottom of Wave 2 in Nov94. From there,it rose uniformly 217% to the top of Wave 3 in July98 (a textbook 1.6x the %gain of Wave 1) and is now in the late stages of completing the end of Wave 4 in 2000 before launching wave 5 into 2002. Wave 4 is tracing out a textbook ContractingTriangle 'abcde' formation since July98 and we are now in the ending 'e' wave of the Triangle with maybe 5% more to go on the downside from here. From an Elliott standpoint, it makes my mouth water to see the long term chart and I think some of the quality S&L's like Washington Mutual (WM) are an excellent place to be right now since they are severely depressed and don't have the lumpy commercial loan and trading profits risks of some of the larger regional and money centre banks.---when the Fed finished raising rates at the end of 94 for example, the S&L's then rose 60% in 1995 alone.----bet ya Slider's in this up to his eyeballs right now (vbg)