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Strategies & Market Trends : Visit Mr. Elliott. -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (10)	4/22/2001 3:14:53 AM
From: macavity	Read Replies (1) \| Respond to of 656

Thx for the welcome. Re. Sentiment. AAII just became more bullish. Bullish 43.75% from 30.30% Bearish 31.25% from 40.90% Neutral 25.00% The path of maximum frustration is, I believe, a bull trap. Now that sentiment has gotten cocky, the market has got its rate cut, a squeeze up here would blow up the last of the bears, suck in some longs just in time for everyone to remember that economies are always in trouble when bubbles burst. The catch is that you end up sounding like a conspiracy theorist if you think like this. I have more faith in my technicals, than I have in my ideas. The whole market is now so short-term overbought that the call for a retrace is the only real one to make. Until my (short-term) technicals break down I am not acting against this rally. This market is just too volatile, and I use stops religiously. The only 'obvious' call that I see is a breakdown in Drug Stocks. Hopefully the Biotechs will follow this. But who knows? Not me. Back to EWT: Is the Jan2001 high (wave4) a sensible target for an A-B-C countermove to the Mar2000-April2001 decline? Any books that you can recommend? Prechters? - macavity