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To: bcrafty who wrote (84005)	10/10/2003 3:25:22 PM
From: Henry J Costanzo	Read Replies (1) \| Respond to of 209892

Don't want to be unfair, but didn't Velo - when he was posting on SI in the Raptor thread - call the 2003 top in the Dow at least a thousand DOW points ago?.......

To: bcrafty who wrote (84005)	10/10/2003 3:54:20 PM
From: Paul Shread	Read Replies (1) \| Respond to of 209892

Good point. I hadn't even noticed that. The trendlines look nice, though. -g I'd say whatever's going on, the most likely count IMHO is that the 2 ended in late March and the 4 in early August. Nice sharp-flat alteration. In fairness to Velo, he is one of the few people I can recall who called last October as the start of a B wave cyclical bull. Why he later backed off that call is beyond me. Message 18083515

To: bcrafty who wrote (84005)	10/10/2003 6:58:54 PM
From: Perspective	Read Replies (2) \| Respond to of 209892

Velo's 3 is longer than the 5. That much is at least valid. An interesting possibility to be sure. Our momentum has been waning in typical terminal fashion, as he indicated with the MACD divergence. One would expect a choppy, ED-ish formation to complete a move like this. However, it could also end up interpreted as a running 4th wave if we break up from here. An interesting count to keep an eye on. We're starting to get plenty of overlap on successive pushes up, and down is starting to look more and more impulsive. I think the near term (next few days) is probably pointed down as a result. The marginal new high yesterday has me backed off though. I want to lay into this thing on the short side, but only after I can see a downtrend in place. Even squinting, I can't see it yet. BC