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

To: James F. Hopkins who wrote (18987)	5/22/1998 7:52:00 PM
From: epicure	Read Replies (2) \| Respond to of 94695

I saw Jerry Favors on CNBC and he addressed my concern- that lovely little triangle- he thinks if we don't go below 8999 (I didn't write it down, but I think that was what he said) by next Tuesday, and if we pass the high set this week then we have a blowout leg to go. Of course not all the stocks will participate- he sees it as a mostly blue chip rally, but my guess is what he means is that it will be a stock pickers rally, and even selected NAZ stocks will run. Then of course, we correct. He is an Elliot wave guy, I guess. He thinks the correction could come as late as July if we have the above scenario. Might just be enough time to suck all that sideline money back into the gaping maw of Mr. market.