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Strategies & Market Trends : The Great B.K. Game -- Ignore unavailable to you. Want to Upgrade?

To: set who wrote (1147)	9/28/1998 9:06:00 PM
From: Death Sphincter	Respond to of 1188

shahar.....my short position taken near the close on Wednesday was based on several assumptions......based on EW i was looking for a 'B' wave up(approx. 30 days) from the lows at the beginning of Sept, this would be a bear rally, when it got to 1066 i was guessing that was the end of the 1st leg of the 'B' and i am playing that the 2nd leg of the 'B' (3 parts....a-down, ..... b-up....c-down) is now playing out....as such..i am assuming that the FED will announce a token cut or NO cut tomorrow and that shortly thereafter we will do the rest of the c-down part of the 2nd leg of the rally(B wave bear rally)...if it plays out that way i will dump my puts for a decent profit towards the end of this week or Monday next week.........i then expect the final leg UP (c wave) of the 'B' wave bear rally ....i think this rally will take place predicated on earnings and that many will come out with earnings that are equal or better that the street and as such many of the severely beat down will rally....but the reality will set in shortly thereafter......the reality is that the bar as been lowered for nearly ALL and beating the lowered bar AIN'T THAT GREAT....and that many,many of those numbers are significantly below comparable earnings to last year...AND NEXT QUARTER does not look that much better.................i then will go short and look for another harsh corrective wave that takes us to 7000.......and that will be the end of this whole corrective that i believe started in April enough of my babbling carl