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To: Shack who wrote (111459)	1/7/2005 6:18:54 PM
From: The Freep	Read Replies (1) \| Respond to of 209892

This is a broad e-wave question for y'all... Time wise, are there any real limitations on a 2 vs. wave 1? I keep looking at the charts of, say, the SMH and seeing a strong move down at the start of December that lasted 5 days from top to bottom. Then we had 15 days of a clear 3 wave move. Either a 2 or a B. We now had 5 days of down from top to bottom (ending with a very high volume stick that was green while doji-ing). That 3-1 time ratio seems long to me. I tend to think of B waves as floppy and time consuming, but 2s not so. I don't think it's a rule, though. Does it even supply a hint??? I'd also note that while I cannot say the semis look fantabulous, INTC saved a breakdown, BRCM broke up from a similar pattern, and KLAC, ugly though it is, sports a possible ABC (with C around 40 cents longer than A) that retraced 14 cents more than 50% of the entire move off the August low. (And I'd further note that bios didn't break down yet, though again failed to regain the breakdown. Might be a key index next week....) the freep.

To: Shack who wrote (111459)	1/8/2005 2:47:14 PM
From: skinowski	Respond to of 209892

JPM last Spring came down in what appears to be a very clear five-waver, and then retraced 62% of the decline. The stock did not participate in the Fall rally. If it will manage to break down and start selling off, the next target is 33-ish, which is a 38% retracement of the rally since October 2002, as well as the bottom of a 4th wave of a smaller degree (last July). My "preferred" (meaning, I would like that -g) scenario is that the action since early October is a series of 1's and 2's (or, 1 and 2).