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Technology Stocks : FirstWave Technologies (FSTW) -- Ignore unavailable to you. Want to Upgrade?

To: TEDennis who wrote (6944)	12/3/2002 9:23:55 PM
From: Sweet Ol	Read Replies (2) \| Respond to of 9677

I thought I would throw in my $0.02 worth of Technical Analysis of FSTW. As you look at the chart you can see that we have completed wave 5 of the Impulse Wave from Elliott Wave theory. This is in the blue channel. We are not entering a 3-wave ABC correction pattern going down. If you look at the previous A-B-C correction wave, you see it was much more vigorous and long lasting than the Impulse Wave. Does this suggest the coming ABC will be of that magnitude? I don't think so, but you never know. At any rate we would expect at least a 30-50% correction of this rally last rally. A target of 10.50-12.00 is my best guess. What do you think? stockcharts.com BTW, I bailed out between 13.50 and 14.25. I expect to reenter after the C wave down has been completed. Best to all, JRH