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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: Vitalsigns who wrote (51213)	7/3/2001 7:02:41 PM
From: Shack	Respond to of 62347

Doesn't the 4th wave (corrective wave) in a Bear Wave count, create confusion as to wether the stock is in a bear or bull phase right about the time the 5th starts down? which would mean more up ($15.50 -16.35? the measurement of wave C based on wave A )before a 5th started? Actually that's a great point. Even if we are in a corrective 4 zig-zag, it has potential to go higher but the 'C' of that 4 should have a 5 wave count itself. I have that 'C' starting on June 27th and has had either 4 or 5 waves depending on how its being counted so I don't expect much more to this rally. If C=A then $14.50 is a reasonable target. That's my preferred count. Secondly , What have you got for your wave counts as pivot points ? 1, 2, 3, and 4th wave I have the powerful 3 down beginning on June 5 and ending at the June 20 low, I am less sure about the 1 and 2 exactly but I think the 1 began May 22 and ended on the 30th while the 2 then began and went to the 5th. No matter how I count it, I just can't seem to find a 5th wave down. Assuming I have simply missed the 5th wave down, I have an alternate bull count which has an impulsive 1 up beginning on the 27th which means we should be in the early stages of a major move up. I do believe that the overall markets still have more corrective phases left in it which will affect NT but at this particular junction, I still see more up than down. Well we both agree that the networkers are bottoming either way. The down I am expecting is the last down I am expecting so we are close. If you are daytrading, then it doesn't really matter anyway. Cheers Vital, glad to see you are still around.