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To: bcrafty who wrote (136234)	9/6/2006 2:22:56 PM
From: The Freep	Read Replies (1) \| Respond to of 209892

BC -- I don't see what's "invalid" about the move off the June low being a B wave. Notoriously hard to count, after all. Is the C (of B) wave up "impulsive"? Well, bull counts are predicated on it being impulsive, so I would guess that it's equally valid for the bears. This is dif than Wave3s "three down" in the longer term, but n the short to mid term, we'd be in for a sharp C down to 1200 or so SPX. I agree the SOX looks bad, and disagree with MC's take that LRCX looks constructive. I would also agree with those who note that my batting average in disagreeing with MC isn't extraordinarily high!

To: bcrafty who wrote (136234)	9/6/2006 2:33:13 PM
From: Henry J Costanzo	Respond to of 209892

<<for those that subscribe to the notion that there can be no significant index-wide rally without the SOX..>> We've argued that several times on this thread over the past couple of years, BC, and I have consistently put forward the view that there COULD be a significant market rally WITHOUT the SOX..Those who think otherwise need only look at the broad indexes since early 2004...and, better than the SOX, look at the SMH in the same time frame...Case closed! And you, BC, have consistently shown over the years that there are always bulls roaming around somewhere in the market prairies..LOL...and 2 more good ones...