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

To: Death Sphincter who wrote (34766)	12/2/1998 1:56:00 PM
From: Jay8088	Read Replies (1) \| Respond to of 94695

Thank you for the timely analysis. I agree with you that we are heading lower. I think the double top is in place for the market (7/20 & 11/24). According to the election cycle, '98 should be a flat to down year. We started this year around 7600. So we may get down there by the end of this month. (It sounds superstitious, but it does fit with this current downtrend). It is also noteworthy that the second top late Nov was marked by rampant speculation on internut stocks. (In fact, they were THE market leaders!!) Perhaps more importantly, worrisome earnings picture may finally have an impact on the all time rich valuation (e.g. Boeing ).

To: Death Sphincter who wrote (34766)	12/2/1998 3:28:00 PM
From: Bull RidaH	Read Replies (3) \| Respond to of 94695

Carlson, It's time to open our Bibles, and draw from the great wisdom therein... IMPULSE GUIDELINES FROM EWT "Waves 1,2 and 4 cannot overlap except by 15% of Wave 2 with leveraged securities, and then only for a maximum of less than two days." As you can see, Prechter has loosened up on being too anal about a small overlap. As long as it's very minor and very quick, he doesn't allow that to throw his count. SPX & Dow are the king of leveraged securities, with the myriad of options and futures contracts applied to each. In yesterday's case, wouldn't you agree we stayed well within the parameters? Now put that glue mask back on, and let's resume this climb until Friday at 12 noon. <ggg> Regards, David P.S. A 5th wave failure is something i'm keeping an eye out for, but i'll stay with the high percentage full move back to around 1190 Dec. S&P by friday noon. As long as we don't violate today's (Wednesday's)lows now, i'm on it. Swapped MSFT for CPQ this a.m.... how am i doing? ;o)