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To: rcksinc who wrote (6564)	5/14/2008 7:52:27 PM
From: Moominoid	Read Replies (1) \| Respond to of 41420

It's looking like an ABC correction is in progress from the early May high- my models are forecasting down Friday or Monday which will be wave C. This correction will come after a five wave LD from the March 17th low. I don't expect a major turn to the downside as my models suggest the market will remain relatively overbought and stuff like the McClellan Summation or looking at monthly charts seems to agree. Here in Aus we haven't even started this supposed correction....

To: rcksinc who wrote (6564)	5/14/2008 8:08:50 PM
From: skinowski	Read Replies (1) \| Respond to of 41420

a flush before we head to the high 1400's maybe 1500 spx. What makes you think that it's not heading for a deep test of previous lows, and maybe to new lows? I'm just curious. I don't seem to have a clear opinion this time around. In the years past I used to have opinions, but frankly, I didn't find that having them helps all that much. I was sometimes right, and sometimes wrong, like everyone else. Having a mental model for each of the relevant time frames is probably a good idea - for as long as we don't get married to our models. I love it when ER keeps taking partial profits -- "just in case" he's wrong. I tend to do the same thing, even though I don't call it the same way... -g