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

To: ratan lal who wrote (17762)	5/1/1998 8:27:00 AM
From: RWS	Respond to of 94695

IMO Monday's gap was a juicy target for a short squeeze and there was plenty of juice available to make it happen with month end money. It sure looked like it ran out of steam in the pm. but there could be more strength today. Now Thursday's gap offers a target which will initiate another downwave. Short term count we could be at end of wave 2 of C or at the end of wave B of a wave II or IV which would have begun April 22. (I believe this was Carl's count.) In either case I think consolidation of the past months' gains will continue very soon. The Fed may not hike immediately, but hike it must, and that is not reflected in today's equity prices. RWS