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To: JRI who wrote (26130)	12/23/2001 9:33:14 AM
From: Lee Lichterman III	Respond to of 209892

A guy on your E-wave thread at our site had a question..... By Stevem on Sunday, December 23, 2001 - 08:53 am: Does anyone use the Elliott wave analyzer II. I just purchased it and i am not sure what is showing me. Could someone help?

To: JRI who wrote (26130)	12/23/2001 12:28:39 PM
From: Shack	Respond to of 209892

....no other explanation for that I can see I think that's part of it as the commercials tend to hit their peak interim short position AFTER the interim top has been hit. They essentially go heavy short the first bounce. For instance, they were actually a fair bit more short the SPX in June/July 2001 than at the May 22 top. Also we are tracking the next wave down as the last of this phase of the bear. It is possible they will begin to accumulate a long position as we sink. I think we are into a transition area for the commercials. As for the counts, I am tracking this decline as having one more dump before the bounce which may or may not carry us to new highs comes.