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

To: bobby beara who wrote (23990)	8/11/1998 9:42:00 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 94695

I would be careful buying dips right here. The trend is your friend and the trend is now down. Oversoldness in a bear market, means much less than overboughtness in a bull market. Hi BB, Overboughtness in the bull market didn't mean a whole lot either. Just look a the internut stocks along with some others.:-)) I think the cat is out of the bag. Someone in the last day or so posted about all the cash that has been accumulated and that it was ready to go into the market. I don't think we will see that money for a while. This puppy is terminal. Monty

To: bobby beara who wrote (23990)	8/12/1998 12:45:00 AM
From: Bull RidaH	Read Replies (1) \| Respond to of 94695

Bobby, We're absolutely on the same page... Wave count included. I'm just concerned that for the bear case, we possibly don't see an extended 5th wave down, and after a sharp decline tomorrow, we spend a week or so on the upside. As that Princeton article stated, this is the sharpest drop in the history of the market from record highe, so the pressure may be building now for a reflex rally of a greater magnitude than we've seen thus far(which would of course be wave 2 of A). If the decline tomorrow from the high runs more than 22 SPX points (the size of wave 1 of 5 of 1 of A), and if the selling continues into tomorrow, I will wholeheartedly agree that massive selling will continue, making this 5th wave down from Friday's highs look like a 9 wave move. Heck, I've got my trading set on autopilot now anyway, so the computer will automatically keep me short if the market maintains proper form for more down. But being able to call an extended 5th wave versus a normal 5th wave before it happens, I'm not able to do that just yet. Got any concrete tips? Regards, David