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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (1188)	8/25/1998 7:03:00 AM
From: Arik T.G.	Read Replies (1) \| Respond to of 3339

BB, Looks like my original scenario holds. We have completed the 1st leg down on 8/14 (look at a 3 days MA and see the 5 count within it), and completed a (last Wednesday)and b (last Friday). The c can take us anywhere between OEX 545-555, and my guess is that 548-552 is the most probable local top. Over OEX 563 intraday or 560.5 close- scrap everything, we're going to new highs. The a took exactly three days, b took 1.6 days, so c should take 2-4 days. Looks like within the c we have an abc pattern also, a was a 17 OEX points rally that lasted 0.5 day, b was a 5 points retrace in 0.5 day. C should make around 15 points (549) and be slower. The last three and a half days also make an inverted H&S with the head at 522, neckline sloping down from 542 (Thu afternoon) to 539 and 538 (Mon morning) broken at 537 and retested at 536 (yesterday afternoon). The target of this pattern is (540-522) +537 = 555. My intention is to start accumulating OEX Sep-Oct puts 480-500 on Thursday, and continue on Friday and Monday should the scenario play itself right. ATG