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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (2788)	8/31/1998 9:26:00 PM
From: DebtBomb	Respond to of 119973

Let me expand on that bottom of 7300 for the Dow. I think it's just a temporary bottom. I was just digging through some material, on April 1st, when the Dow was about 9000, the prediction I'm reading is "Mad Cow Dow will persist until the Dow settles into a 25-35% correction", well I hate to say it, but that means Dow 5850-6450, keep in mind this could take until the end of next year. No matter, we had a good tanking today and I believe the internets will bounce.

To: DebtBomb who wrote (2788)	8/31/1998 10:30:00 PM
From: ChrisJP	Read Replies (4) \| Respond to of 119973

Dale, Your source sound like my Dad. he told me to sell everything in late July. The 7250 support in the DOW is the bottom of the first down move in the DOW. In Elliot Wave tradition, I suppose there will be 3 waves. The trick is to know when a wave begins and ends. There will be plenty of fabulous short lived rallies on the way down. Gold will not sky rocket until we reach a level of despiration (as opposed to simply panic) far higher than we are at now. But if Hong Kong, then China, then Latin American, then Europe deflation dominos fall, then your source will be right about gold. Like you said, it might take another year or 2 to happen. My Dad saw it coming last July, which is when I sold all of my Pac-rim mutual funds. Regards, Chris