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

To: RWS who wrote (16507)	4/15/1998 1:04:00 PM
From: Nathan	Respond to of 94695

RWS, thanks. I get confused by all the different 123's- ABC's. I thought we were past Major 3.

To: RWS who wrote (16507)	4/15/1998 1:23:00 PM
From: Death Sphincter	Read Replies (2) \| Respond to of 94695

RWS...let me repeat that i am a hack on EW. that said let me say that i try to watch waves as a guide to the direction of the market, which has obviously been in one general direction....the vast majority of my trading is with stocks, i dabble with OEX occasionally, as i am now. with general market conditions i have been expecting a large correction..OK that is out of the way. Now is the following read a fair guess in your opinion. Impulse wave started Jan. 12....wave 3 of this impulse terminated March 23rd. since then we have been in wave 4, a corrective wave which contains an ABC move within..... It seems possible that the c ended on April 13 around noon and that the action we have been seeing since is actually the 1st wave of the 5th wave of the major impulse. if so, we could be entering the 3rd wave of this 5th as i speak. Barring wave action...i have had a feeling that this current impulse would end with a mini-blowoff top this month and that we could very well then begin an impulse wave DOWN that would be the start of a LARGE correction that would be fueled by poor earnings(compared to last 5-6 quarters) end of "noninflation", possible dollar pressure and looming Asian recession. for current short term put holder this is an ugly scenario...as the 3 of 5 would hack us to death. your thoughts, did i follow this impulse wave somewhat correctly? carl