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To: ViperChick Secret Agent 006.9 who wrote (38876)	4/9/1998 7:32:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

In all fairness to Dave kerPlunk, it's a bear to read Elliott. Anyway, we all need a lesson with respect to reality. Whether or not the market is expected to crash or soar it has to be traded with some respect. Whether or not Dave proves out to be correct is going to be an unusual event. Not something one can make money on as a result of major moves on an ongoing basis. Actually, the high risk move today was to go into the weekend short. I'm short. I'm with all of you, who also are short. I'm just not quite certain it was the smartest thing I've ever done. By Monday's close/Tuesday morning, personally I'm not joining the "Crash" crowd. I wish you all luck.

To: ViperChick Secret Agent 006.9 who wrote (38876)	4/9/1998 8:43:00 PM
From: donald sew	Respond to of 58727

Lisa, I had indicated concern earlier, that if the DOW and NAZ were up strong today, which it was, this mini pullback could be over. Not to confuse it with Plonk's waves, but this mini-pullback would only be a part of or one wave in Plonk's analysis. Such would require confirmation on Monday, but my analysis is giving a fair indication that Monday/Tuesday being up and Tuesday/Wed be the top/begining of another pullback. If this mini pullback is actually over than my support of 8750 on the DOW held, and was not really tested. Let me explain my mistake. I had previously indicated that the NAZ would POP up yesterday which it did. Since the DOW was still in the upper mid-range and had substantial downside on a technical basis with a downward bias, I believed at that time that the NAZ would do a TECHNICAL-DELAY-DIP(a mini double bottom). Unfortunately it didnt. Ok, where do we go from here. All my charts are not updated but feel that the overall market is only approaching overbought per my short-term technicals. In the recent past when the market has been in this area it normally had 1-2 more days before becoming a CLASS SELL. In light of such the market can still go up Mon and Tue, unless there is some dramatic news to turn things around. For the mid-term this rally is definitely slowing down. There are plenty of technical signs of such, and an obvious one is that for the week the NAZ and SPX are down for the week, and this is the first time this has happened since this rally started in January. Also, the DOW was only very slightly up for the week. Another very important technical signal that we are slowing down is that for the last 2 weeks the length of the down periods are getting longer. In the past any dip only lasted 1 day, or at most 2 days. Now they are 2-4 days in length. The next step with any pullback is that they will get stronger in the size of the drop. To recap, this is what I see for next week: 1) MON - UP 2) TUE - UP, with the top occuring intraday, and possibly the pullback to start at the end of the day 3) WED - Top of uptrend, and pullback to start if it didnt Tue afternoon. 4) THU - DOWN 5) FRI - DOWN Now just to complicate everything, there is also the strong possibility that the sequence I just mention may happen one day early so that the pullback could start as early as Monday afternoon. As Patrick and myself have indicated that we did not see a huge pullback that PLONK was talking about in the time frame he indicated which was by next Wed. However, I am getting technical signs that the pullback to start in the middle of next week could be the bigger one. Whether that one is the one to goes to 8150 is still uncertain. My price targets are not at the level where I am that comfortable with yet, but I will still hold to my old position that the top for the interim is still set at 9100-9200. Sorry for the mis-read.