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To: JRI who wrote (682)	4/23/2001 4:43:01 PM
From: Shack	Respond to of 209892

Nothing has really changed. I still favour that we are in the B. Just looked strange to me. No waves to count. What if the whole move from the 10th through Friday is just a 3 up and we are doing the 4 now. We still have a 5 up to come. The point is nothing is counting particularly well right now so that is a possibility. I'll try and post a chart with that scenario.

To: JRI who wrote (682)	4/23/2001 7:18:37 PM
From: Shack	Read Replies (1) \| Respond to of 209892

Well here's what I think is going on. I finally got Q-charts working wiht my website so I can post charts. In terms of the biggest picture, I am of the opinion that we are correcting the rally off the 1987 lows. I think that the entire Nasdaq decline thus far was a massive A in a large corrective A-B-C. We are now in a large B (beginning the B of B on friday) dshacket.homestead.com I think what you said earlier JRI is possibly correct, that the a of B of B is nearly done already. We just covered so much territory and I bet we gap down tomorrow for a little more. The b of B of B begins tomorrow early which may or may not retest the highs. Then comes the c of B of B which takes us down to COMP 1900 or wherever. I think this lines up nicely with the heinz cycle low on May 2. Then the C of B begins and I want to be very long for that as I think it may take us 2500. I know many of you don't subscribe to the bigger scenario here but if 2250 goes, you'll have a ready reference to which you can turn.

To: JRI who wrote (682)	4/23/2001 9:09:50 PM
From: Perspective	Read Replies (4) \| Respond to of 209892

I'm counting Friday as 1 and 2, with today the 3 and 4. Can't post graphics from here, but I will later. If we gap down over the support line for the rally, I'd count that as 5, and an excellent point to take some profits. My preferred terminus for the first downleg of this correction continues to be Naz 2000; I think they'll try to defend the gap, and defend the psychological threshold. If I get Naz 2000, I'll be taking profits. As soon as I identify three waves back up, I'll re-enter a moderate short position for the real retest, which I think has a high probability of finding support in that upper 1800s congestion, which will also make a fairly neat looking H&S bottom. I need to double-check my Elliot rulebook, but another possibility might be that this "B" retest of the lows could unfold as 3-3-5; I don't think anything says it has to come as 5-3-5. So if it wants to hold the support line, we may be in for a day's worth of up here; this downleg could already be done. Will update later. BC