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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (22269)	10/22/1998 11:29:00 AM
From: Cube	Respond to of 79258

Doug, TNM is showing another crossroads here. I would let the next few days show us where to go before we trade, and here's why. The low of 9-21-98 is very likely the end of a large wave 3 down. The wave 4 up has not quite finished. I think the top of wave 4 will take us just a little higher into the 13's. Then to complete the wave 5 sequence we will retest the low of 9-21 at 11 1/2. I don't think that low will be broken, it will be a double bottom. So, I would short it in the mid 13's for a ride down to the mid 11's, then go long for the long term since it would have completed a full 5 wave down sequence. Keep in mind, still learning!! Cube