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To: NOW who wrote (72647)	5/2/2003 5:10:20 PM
From: Perspective	Respond to of 209892

Excellent - if the technical activity can get everyone leaning on the long side, then it will make this decision that much easier. Elliot says that this is NOT the stuff a cyclical bull is made of. The recent activity is not the meat of a three, but the death throes of an ending diagonal. The more chart-chasing trend followers it traps, the better to produce recognition in the downward direction. The fuel is not present for a sustained cyclical bull. Too many bulls already. Unless Greenspan figures out a new way to make more fuel for the bull, this will end soon. BC