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To: donald sew who wrote (39609)	4/14/1998 6:02:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (2) \| Respond to of 58727

actually don I dont think Plonk is in line with you BECAUSE he is saying the downward draft needs to start tomorrow morning or he misread the waves... and you are saying today/wed/thurs as the top...

To: donald sew who wrote (39609)	4/14/1998 7:22:00 PM
From: Skipperr	Read Replies (1) \| Respond to of 58727

Don - In response to your comments to Ratan cautioning him about following anyone (PLONK) too closely - and believing in them too much - I have to say that I, for one, fell more in Ratan's camp than yours. We all read SI so as to get a greater understanding of the markets. I confess to being led along by PLONK's strong and enthusiastic comments of the market's tanking as well. This is the perception that PLONK has relayed to all of us. This, perception leads us to believe that PLONK, through his counting of Elliott Waves, can predict the future. We all KNOW that this is not possible, but deep down inside, with the markets as complex as they are, we want to believe that someone can - so, we give them the benefit of the doubt and then that leads to action. And, it appears, that a lot of PLONK's followers, who hold April puts, are about to get burned now. I wasn't taken in by PLONK's rhetoric but I surely can empathize with those who were. I was taken in by Bob Prechter in Jan-Feb 1984 and vowed it would never happen again. I sure am glad I stopped following his advice after Feb 1984! Good luck to all of us in this unbelieveably crazy market! Skipperr

To: donald sew who wrote (39609)	4/14/1998 8:15:00 PM
From: Kevin Stull	Read Replies (1) \| Respond to of 58727

Donald, I spend most of my time lurking but come out of my shell from time to time. I find your posts interesting and informative. Just curious, you wrote: "...and yes I am still seeing more and more weaknesses in the market, even in light of the market being up so strong.." What indicators are telling you that the market is weak? Incidently, I have thrown in the towel waiting for the market to reach a top.....and have switched from puts to calls.....the INTC number just confirms this for me. Earnings reports across the board appear to be strong, the bond market is healthy, and mergers are taking place on a daily basis.....all factors that seem to be taking this market to new highs at least until something unforseen happens.....Japan, Greenspan's health, Iraq, Y2K, a large asteroid headed for earth:) Today I bot: MRK May 125 calls PFE May 100 calls and holding CCL May 70 calls I am still holding a few AOL and YHOO Puts just in case reality sets in. Also, the Treasury will be making the final tallies of taxes received by the end of the month....speculation is that the surplus may be bigger than first anticipated......which would be another strong underpin for the bond market. Just my 2 pennies worth, thanks!

To: donald sew who wrote (39609)	4/14/1998 8:53:00 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 58727

The Plonk analysis. It's understandable that many would follow this. It's a Utopian view that would cash in big bucks in a wild market. Older people don't go for this much. Dave is a young guy and excitable. Frankly I think he's real bright but pushes his opinion a tad. However, I think we have come to the end of making excuses for Dave. I for one have privately disagreed with his calls many times but everyone on SI has become very excited, have they not? I am not an apologist for Dave Plonk. If Dave is calling for the end of the world tomorrow this is fine. Let's figure out what the market is going to do from our point of reference. I have up into late Thursday, this is based on pattern techniques which have this as a wave which matched a pattern that produced a low early in the week and bounces through late Thursday and continues on through a selloff on Friday. The absence of option related activity and International pressure contributes to a downturn on Monday where acceleration to the downside should occur. Now, what do you think?

To: donald sew who wrote (39609)	4/14/1998 11:19:00 PM
From: ratan lal	Respond to of 58727

Donald I basically use short term simple indicators like Stochastics, Moving Averages and Momentum. I post throughout the day what my indicators tell me. I do not know EW. David's posts suggested that he had superior knowledge of EW and I, for one, wasvery interested in acting on this knowledge that he was providing and at the same time learning about EW. One of my posts even asked David what courses, books etc he would suggest. I admit to having a weakness for following people who have (presumed) authority (I might have followed Hitler) and David's posts showed nothing but concrete authority without any waivering or disclaimer. David's posts are the only one's that I have ever printed out and read them regularly to make sure I understand what he is saying. I even suggested that he post his charts on geocities.com so we can all look at the same chart and discuss it. I did not invent the word 'plonked'. It was already there. I just used it the second time that EW was misread. Now, frankly I am back to my short term indicators which work well and rarely get a chance to get derailed. Of course you cant get the BK which is what EW promised. I rarely post and only post real time data and what my short term indicators show. EW sparked a big interest because it promised the BK and because it was something I wanted to learn. There was no disrespect meant to David and David may still be right but off (I hope) by no more than a day due to options expiration. I am still holding my puts. ratan