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To: The Freep who wrote (125109)	10/17/2005 12:48:16 PM
From: marginmike	Respond to of 209892

fleckenstein on cnbc....usially a ST bottom

To: The Freep who wrote (125109)	10/17/2005 1:05:49 PM
From: Henry J Costanzo	Read Replies (1) \| Respond to of 209892

<<,,,,,when I see W and X and Y on an ewave count>>........I zone out, too....No such waves known to Elliott...... Same goes for a "leading diagonal" I saw some reference to in a chart here recently..... Corrections requested if I'm wrong.......vbg

To: The Freep who wrote (125109)	10/17/2005 1:12:38 PM
From: Henry J Costanzo	Read Replies (1) \| Respond to of 209892

<< I can easily make the SOX in a 4............. of C down off the price high....>> Off of the early Aug price high ?? So if that's where a C wave might begin, where, pray tell, might the preceding A and B waves lurk ??? (May pry something out of you yet on my questions last night....LOL)

To: The Freep who wrote (125109)	10/17/2005 1:15:48 PM
From: skinowski	Respond to of 209892

The W's and Y's don't mean anything. That's only a way of pointing out that they signify moves of a larger degree than the "abc's". Think of the large range on the chart as ABC-X-ABC. It will be the same thing. The important thing is that a) the recent down action fits in very well into the scenario as presented, and b) it gives pretty tight stops in case the read is wrong. For now, I feel fairly strongly about this read. It helps me keep track on the larger picture. But if SMH trades above 36, I'll have to start rethinking the whole thing.