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To: Dale Stempson who wrote (5699)	3/2/1998 9:08:00 AM
From: Dowist	Read Replies (1) \| Respond to of 7685

The Elliote Wave is a statistical tools just like weather forecasting, it does not really care about the internal content of the stocks but rather by its statistic overall pattern and profile. Elliote Wave base on the progression of trend reversal of upward 5 waves and the downward trend of 3 waves. By looking at the stock's performance, a statistian would able to deduce the underlying health and higher trend that the company is undergoing. INvesting is never about fundaments, but rather market psychology of the people, notice the upward climb of Amazon and Yahoo, both losing money and have no equity of what so ever. But both have incredible growth potential. Analaysing the chart, the Elliote Wave shows a high indication of the upward 3 wave stage, which is extremely strong up trend and can easily bring us to the 4.04 level before it will retrace to around 3.5 level on the 4 wave. The 5th wave is the one most crucial, if it can break out to 4.5 to 5.5 then the stock will be confirmed as having a upward trend propel by a higher function,(sorry too much math jargon.) :-) Dowist of Tao