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

To: RWS who wrote (18424)	5/12/1998 11:19:00 PM
From: Death Sphincter	Read Replies (1) \| Respond to of 94695

RWS.. boy, you are right,certainly was a drawn out 2...looks like 3 on fire this afternoon. a real juicy PPI/CPI tomorrow morning will give it the kick in the butt we have wanted. I am also concerned about the time frame now...may have to push it up to Thursday late or Friday morning for top,???? certainly would still expect a selloff on Friday afternoon. 1130-1132" might" be a logical spot for 3 to stop???? 4 should be quick and simple after a truly complex 2...that would leave time and correlative price movement for 5 to allow us to at least get to the lower-mid range of the targets we had dicussed. Sweet dreams carl

To: RWS who wrote (18424)	5/13/1998 12:36:00 AM
From: Bull RidaH	Read Replies (1) \| Respond to of 94695

RWS, It's still a very tricky wave count right now as you well know. If this wave up we're in continues in straight up fashion into the mid 1130's or higher (began at 1107.40 @ 2pm today), then I may lean towards this being intermed. 3 of primary 3 up, with the correction termination on 4/27. No matter what wave it is, that secondary double bottom that formed today projects up to 1131 on june futures, and the 1st double bottom I discussed earlier is still very much a factor that should drive the market up towards the 1138.80 target. Action breaking above the 1130 area constitutes a break out of the large coil pattern I've described earlier, with its 55 S&P point propeller from the point of breakout. So I will continue to lean long, and be flexible with the wave count until it can become more conclusive. These technical patterns (double bottoms, coil) are too reliable for one not to restfully depend on them and get all worked up over which wave count is correct. I like to primarily navigate by wave counts as well, but I just don't think they can be "primary" in importance at this juncture. Regards, David