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To: JRI who wrote (13318)	9/13/2001 9:26:29 AM
From: velociraptor_	Read Replies (5) \| Respond to of 209892

JRI...If we gap down, it is most likely some part of wave 3 of 3. It has been said that news seems to correlate with EW and not the other way around. Meaning waves are going to unfold no matter what happens. The degree to which they unfold is what can be affected by the news however. That said though, I think it would be prudent to let some data go by before putting any particular count onto the market. This news event will no doubt exaggerate the market action and distort it according to EW. How remains to be seen, but I think at a minimum we can expect some kind of initial downside. I am not sure I would go long a whole lot just yet, after the initial drop. One thing that is obvious is that world markets are moving in unison and they are dropping which puts a strong down pressure to any market. I have also noticed that all the world markets, after the initial drop, have only recovered slightly and are nor forming small rising wedges or bear flags. We all know that these tend to have bearish implications. Really by waiting a few more days, the US is now put at a disadvantage because if the world markets do continue to decline before Monday, which pattern wise looks likely, the US will have series of waves in downward pressure to make up. Regardless, I would not advise heavy trading in the first day or two of market action because I really don't know how predictable it will be.

To: JRI who wrote (13318)	9/14/2001 1:15:47 AM
From: Shack	Read Replies (1) \| Respond to of 209892

JRI, if we gap down, it looks like we will have completed the third wave in the DOW decline off Aug 27 and we would then enter the 4th wave which would likely be flat followed by a move down probably at the beginning of the following week. Essentially I am trying to imagine that nothing has happened and will be ignoring anything lower than my intermediate count. Wiggle trading will be a wild ride I think. Something which is not my forte. I will be out of my DOW poots on the first tick if we gap down. And for those that think we don't gap down, I will remind you that this is not a game. These are real businesses many of whom will take hits in the third quarter because of this, some of whom may become insolvent for all we know. I don't see how we don't move down. And there is nothing unpatriotic about it. If one wants to be patriotic then they should buy a flag, not MWD. BTW, thanks to all posters on this thread for presenting the most level-headed and insightful thinking regarding this tragedy of any I have read. Privileged to be part of it.