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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: ratan lal who wrote (16185)	4/13/1998 12:06:00 PM
From: Death Sphincter	Read Replies (1) \| Respond to of 94695

ratan...i couldn't possibly bear the weight of trying to make a call of what someone else should do with their money, it is unfair and may cloud their judgement. these reading are so subjective that mine or Davids may be in the same general direction but differ by a hour, a day, a week. because of the time premium on the oex i might think there will be an interday rebound of 3-5 pts and yet your gain in absolute dollars could be near zero, unless you are will to play at least several thousand $$$$ at a crack. MY FEEL right now is that as far as waves go, this is 4 of 5 of the 1st wave down of the Big Wave 3( the whole Big wave 3 is a down wave, broken into 5 smaller waves, which inturn can be broken down even farther) Big Wave three will in theory will be #1 down, #2 up,#3down(big) #4 up and #5 down,....and remeber that each of these can be broken down further. this post is taking time to write, but when i started i was seeing it as wave #4 (up or consolidating) of 1st wave(down) of the Big Wave 3. my guess is that resistance for #5 at or just below 1095-1100 S&P cash. that ends 1st down wave of Big Wave 3, then #2 starts and, in theory, would be a recovery(up or consolidation, with 5 waves within). must go back and check prices now Carl

To: ratan lal who wrote (16185)	4/13/1998 12:18:00 PM
From: RWS	Respond to of 94695

Asking Carl or Dave for running commentary and recommendation to buy/sell on the fly is like inviting him to stick his pecker in a knothole. (A frighteningly risky proposition!) RWS

To: ratan lal who wrote (16185)	4/13/1998 12:25:00 PM
From: Death Sphincter	Read Replies (1) \| Respond to of 94695

ratan-if my read (guess) is right a retest of the interday low should come soon. David is far superior to me on wave knowledge so take what i say as just something to watch and not advice. i still have OEX puts. I MAY buy some Calls if it goes under 1100 S&P (527 OEX) BUT WITH $5 premium on the OEX April 530 (at OEX price 529) i would have to get at least a 5 pt. up on S&P to make much on the OEX 530 April Call. this is risky shit, and you need to have a decent understanding of what is happening in options and realize that it is set-up to take your $$$$ with slow and sideways movements. if David is correct: when this #1 wave down ends, #2 (consolidation-corrective-up) will begin. if you can pick the top of that entire move AND THEN< IF Preview Use Fixed Font....Terms of UseYou are responding to this message from ratan lal on Apr 13 1998 11:47AM EST carl If you understand all this wave theory, could you be the interpreter and post in layman's terms like, BUY puts now, Sell Puts now, buy calls etc. ratan

To: ratan lal who wrote (16185)	4/13/1998 12:31:00 PM
From: Chip McVickar	Read Replies (2) \| Respond to of 94695

ratan lal and Richard Marzella For David Plonk to factor in all the viewers implied understandings would deminish the technical simplicity of his own perception. It is up to us to learn and understand the proccess. Personally I prefer the instight gained from watching these Elliot Waves unfold. It is far more valuable to us all that he takes the time to present His material. Viewing his interpretation of EW's is the basis for our willingness to accept his authority. Elliot Waves are methods of patern projections. David doesn't actually know what is going to happen,....but his work is narrowing the probabilities. If on the other hand he only droped the numbers....thats all you would have. Later when David stops dropping the numbers or misses a few trading points we would be wondering why all the fuss..? I think he is going exactly what he should be.....sharing his technical knowledge of Elliot Waves and other indicators. David is obviously very adept at using his tools, by sharing this richnes we gain an insight into a difficult method of market analysis. By not feeding trading numbers alone, we are not blindly market timing. This way we understand the process and can filter it into our own methods of trading. McDonalds fast food has never been particularly nourishing. Just an opinion Chip

To: ratan lal who wrote (16185)	4/13/1998 12:40:00 PM
From: Death Sphincter	Read Replies (1) \| Respond to of 94695

ratan..sorry got distracted and blew the last post....to finish...IF..IF there is a failed rally from this point and if you want to believe that is the end of the 2nd wave of this Big Wave 3...then it would be time to buy Puts in anticipation on the 3rd wave (big down) of Big Wave 3. but this whole theory is subject to individual interpertation. if the whole move gets dragged out over a longer time frame i could get my clock cleaned , April's only have a few days left. earnings time is scary, a few big blowout earnings from select stocks COULD fuel a rally that would screw up the whole deal. carl