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To: velociraptor_ who wrote (7661)	2/6/2003 8:07:32 PM
From: mishedlo	Respond to of 10157

From Brian Even though there has been questionable put buying this week, the MA's are still low (thanks for all the posts on those huge transactions). The 50-DAM has a long way to go. tinyurl.com The S&P closed below 839, and the BP chart and the Summation continued down. (Who was that trying so hard to keep it all together?) tinyurl.com tinyurl.com As did the # of stocks above their 50's tinyurl.com The EW count is a little tricky right now - it will sort itself out in due time. But the downtrend is strong here. Homebuilders down today? All the ones I watch were. tinyurl.com All the Best, Brian

To: velociraptor_ who wrote (7661)	2/6/2003 11:45:07 PM
From: mishedlo	Respond to of 10157

From Brian Mish - Here is an EW analysis on the AMEX Biotech index. tinyurl.com Right now, the chart is in the form of a double three - 2 corrective waves W and Y. There is the possibility of there being 3 corrective waves, but that is the max. I think that after this last a-b-c completes, there will be a good opportunity on the long side. It may be the bottom in biotechs, or it just may be a bottom (to be followed by another A-B-C decline), but it will probably be tradable. But aside form that, I am thinking that Biotechs might be a long-term investment to look at. So, that is where I'm looking from. I'm sure MLNM can get 1/4 of cash, which is why is belongs on the watch list for now - but not forever. Brian