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

To: Byram who wrote (19764)	6/5/1998 2:18:00 AM
From: Bull RidaH	Read Replies (1) \| Respond to of 94695

Byram, I haven't cashed 'em in yet, but I've got a nice, high basis with healthy profits, so I'm in no big hurry. I'll wait these rallys out, and expect to cash in early next week. I believe the sharp drop on Wednesday after 2:40pm was the start of the 5th wave down of C (final wave down of correction). This 5th wave subdivides into 5 waves itself, and we saw the first big wave run down nearly 20 S&P Pts into the close Wednesday. We then started a wave 2 rally, which is about ready to conclude. Wave 3 down of 5 should begin by 10:00am tomorrow (friday) morning, and could easily take us to new lows for the correction by Monday. I'm still expecting the upper 1060's to around 1070 on the S&P as the bottom of this 5th wave, and expect to see it conclude Monday or Tuesday of next week. J. Favors also calls for a S-T high on June 5th, followed by a significant low on June 9th (Tues). I think his cycle timer is right on track!! Regards, David