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

To: bobby beara who wrote (36265)	1/10/1999 8:19:00 PM
From: Bull RidaH	Read Replies (3) \| Respond to of 94695

Bobby, In the Dow, the position you once (and still may be) supporting of an ABC Corrective Flat that began 8/7/97 and ran into the summer of '98 as a B wave seems to best explain the market action for the last year and a half. As I see it, we had a 3 wave "A" from 8/7/97 to 11/12/97, then a 3 wave "B" from 11/12/97 to 7/20/98, and the 5 wave onslaught down from there was the "C" wave of this expanded flat. I now agree with the "Hit Man"'s assessment that the 5 wave move off the 7/20/98 peak ended on 10/8/98 in an ending diagonal, and concluded the one year and two month correction that began 8/7/97. There are vitally important reasons why the C wave descent from 7/20/98 peak were so record breaking in nature. The same logic explains why the subsequent bull market that sprung to life from the 10/8/98 termination date has been so dramatic and record breaking itself. I will address these reasons in the next couple days, and discuss implications for the coming years. Looking forward to your scorching criticism. <g> Regards, David