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

To: Death Sphincter who wrote (17968)	5/5/1998 7:45:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 94695

Carl, here is some confirmation of the move coming that Plonk, Arik and I are calling, whatever ABCDEFG it is -ggg- and this is no alphabet soup. decisionpoint.com notice that the spike bottoms in mid August, October 27th, Jan 12th were all followed by big moves. From a spike bottom the next spike is known as the buy spike. In elliot terms that might be considered the initiation of wave 3, the longest of the moves. We spent two days in the positive on the oscillator and now have turned back to negative. I would look for the Oscillator to either turn-up from here or spend one or two at most more days down. Once we hit bottom and reverse up the move should be dramatic, as indicated by yesterdays minor change reading (there is the possibility that the major move could be down bringing more bearishness into the market to precede the up move) I believe our bottoming process here is akin to November 12th and remember the dramatic move to December 8th. At that point the put/call ratio on December 8th was extremely bearish and I would expect the same at this point as all the bears stand on the sidelines, are broke, or go bullish at the peak. You might also remember that December marked a dramatic flip/flop in the put/call, later that month it got an extreme bull reading. With the big amount of short selling around these days, when the bulls get panicky for what ever reason the short sellers could take this down hard. I've noticed that the B bands on crude are tightening in this consolidation phase off the bottom spike and the XAL is Nosediving. Don't need much to push this thing to the edge of the cliff, high oil prices, bonds over 6%, SEA nosedive two (timing is about right for that to happen, the 29' the dead cat bounce ended in late April, 1930) Good chance of an 800 point move from the next bottom to the peak which might be in the last week of May. If we get this kind of move over a short period of time, you can bet your booty that plenty of MM's will be taking money off the table. bwdik, bb