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To: Paul Shread who wrote (7392)7/18/2001 8:50:30 AM
From: AllansAlias  Respond to of 209892
 
Thanks Paul.

A couple of points. The 'e' will probably undershoot the lower line. This sort of headfake happens most often; even the Elliott books counsel one to watch for it on 'e' moves. Lots of losing chart-huggers have stops that sell on weakness or buy on strength -- they get nailed on these throw-overs.

Yes, sentiment remains the fly in the cow ointment. Maybe we'll burn off some of the euphoria as we drag this out for a few more weeks.