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

To: SE who wrote (19861)	6/5/1998 4:14:00 PM
From: ratan lal	Respond to of 94695

Scott - from the time David madse his post, sp8m has gone up substantially. - so who knows. Might have figured out the EW finally.

To: SE who wrote (19861)	6/5/1998 4:30:00 PM
From: RWS	Read Replies (1) \| Respond to of 94695

Scott I'm currently flat in reality. Bought calls yesterday and sold them too early today, but still profitable. The game short was just a flyer on a down open Monday as today was a little over-exhuberant. David may be correct. On the other hand we may still be in an extended flat wave 2 correction from April 6th which may continue another week before the excess is wrung out of the market. It depends on how high this wave goes. It may be D of 2 in which case it should end in a few days followed by E down of 2, the last wave in 2. If it's 1 of 3 then it should go higher before wave 2 correction sets in. Market is oversold but not very, technically still looks weak. I would like to see a climactic low. Sorry I can't be more certain. RWS

To: SE who wrote (19861)	6/14/1998 9:12:00 PM
From: RWS	Read Replies (1) \| Respond to of 94695

Hi Scott On the Game thread you asked if my count agrees with David's EW outlook. I'm posting to you here because I think the game thread was supposed to be for the game only and this thread was for discussion. I'm skeptical right now about any big 3rd wave up move. I think we'll stay in a trading range a while longer until some more fluff is wrung out of the market. We've had some pretty negative ticks but no panic selling to mark a bottom IMO. Volume is just starting to pick up and should increase on the next downwave. I don't think we'll get a crash to 1100 because Clinton, Greenspan, and Rubin don't think it's good for the economy. On the other hand there are problems with deflation fears, Asia, Russia, earnings disappointments, wage pressures, overvaluation, etc. that have begun to inject some uncertainty in the market that makes any runup scary and therefore a good short for now. I think this is validated by the EW count that says this is a sideways series of five (ABCDE) sets of three waves. The count I like best for now is the preferred count on Temple Williams site. That puts us in a B wave up starting Friday which is corrective and may go a little higher, then C wave down, which should end this primary wave correction prior to heading to new highs. (Don't forget B and C will subdivide into up/down waves.) Given the technical weakness in the market new highs may not be so robust. What is your interpretation of EW at this point? I would be very interested in your ideas. RWS