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To: venividivici who wrote (124724)	10/4/2005 9:33:44 PM
From: skinowski	Respond to of 209892

Precisely. This is what I had in mind for the rally of the last several days. NDX needs to go below 1584 - 1580 to create an overlap and confirm the three-waver.

To: venividivici who wrote (124724)	10/4/2005 10:24:12 PM
From: Moominoid	Read Replies (1) \| Respond to of 209892

Thanks - that is really nice - yes we are talking on different time scales. That whole wave (ABC) is the third wave in a corrective sequence, the first of which is the Katrina rally which looks like an impulse. So then we have 5,3,3 which isn't allowed as a complete correction. So either the correction is not complete or we are reading the 5 wrong as 3,3,3 is allowed (WXY). Action on SPX and now tonight in Aus and HK supports us being in the beginnings of a big 3 down.... but so far NDX/CompQ correction is timid.

To: venividivici who wrote (124724)	10/4/2005 10:25:21 PM
From: Moominoid	Respond to of 209892

Thanks - that is really nice - yes we are talking on different time scales. That whole wave (ABC) is the third wave in a corrective sequence, the first of which is the Katrina rally which looks like an impulse. So then we have 5,3,3 which isn't allowed as a complete correction. So either the correction is not complete or we are reading the 5 wrong as 3,3,3 is allowed (WXY). Action on SPX and now tonight in Aus and HK supports us being in the beginnings of a big 3 down.... but so far NDX/CompQ move down from the top of your ABC is timid. Probably I will end up being slightly net long just when the big crash happens :) My Beta = c. 0.14 now after I bought a few News Corp ITM puts.