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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (8571)	7/1/2004 1:09:22 PM
From: mishedlo	Respond to of 116555

Email from Scott Reamer - Minyanville. I sent him Brian's charts... ================================================ Yup: the second link you provided is the alternative that I have (MV readers can’t see the charts that are in the research piece sadly. I will attach it to this email so you can see the Alt counts). The”problem” with this more bearish count is that the black 2 and black 4 corrections are very disproportionate (the 4 is much much larger in actual and % terms than the 2. EW counts that are disproportionate are highly suspect. In either case, our call was to be bearish to 410 then potentially bullish IF bottoming action were forming. Otherwise, if 410 doesn’t hold, 330 is the next stopping point. We shall see, of course, but either way, this thing looks down from here to at least 410. then the real fun begins…if the bearish count in the second link is operative, the 410 level will not even come close to holding prices…so positions put on now will just ride with the down move… S ======================================================= Here are Brian's charts and my original message to Scott... Aparently you see it something like this stockcharts.com What about this? SOX from the June 21 low. Clear A-B-C correction ending at the 61.8% retrace of the April decline. Breaking down hard this morning. stockcharts.com[g,a]ehclynay[d20040101,20041224][pf][ila12,26,9][J29762766,Y]&listNum=62 [mish note: the first was Brian's intrepretation of a post by Scott earlier calling for a bounce at 410 to new highs all the way to 620. the secon chart is how Brian sees it- high already in]

To: ild who wrote (8571)	7/1/2004 1:18:36 PM
From: mishedlo	Respond to of 116555

St. Lawrence Seaway traffic up 12% year-to-date By Rex Nutting cbs.marketwatch.com{828FB582-82A9-4A8F-B36C-7D018C2FC7BE}&siteid=bigcharts&dist=bigcharts /01/04 WASHINGTON (CBS.MW) -- Cargo traffic through the joint U.S.-Canada St. Lawrence Seaway is up 12 percent year-to-date through May, the U.S. Transportation Department said Thursday. "A busy seaway is one of the surest signs of a busy economy," said Albert Jacquez, administrator of the U.S. Saint Lawrence Seaway Development Corp. "This year we are seeing the clearest indications that America's heartland is beating stronger than ever as more and more ships pass in and out of the Great Lakes." Since the March 23 opening, 9.4 million tons of cargo had moved though the seaway, compared with 8.4 million tons last year. Chemical shipments are up 55 percent. Shipments of coke are up about 25 percent, while shipments of wheat, corn, barley and soybeans are up more than 20 percent.