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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: The Jedi who wrote (13953)	1/28/1999 2:03:00 AM
From: The Jedi	Respond to of 44573

Everybody take a look at IBM, a perfect wolfe wave on 60 min and a megaphone on daily bars (I said before megaphones are rare on the tops) IBM will be a buy near 170 (that would be a near 15% correction) with a target of 210 by end Feb and that should complete the megaphone and any break north will be gravy, especially as it is a split candidate. Just a random thought. The Jedi

To: The Jedi who wrote (13953)	1/28/1999 6:33:00 AM
From: Patrick Slevin	Respond to of 44573

Yes the only question in my mind is "where/when will it bottom out". I don't which will be the "best" trade. I'm guessing the better trade should be the Short with a rebound late. But that flies in the face of normal behaviour. Usually the Sell is very steep and quick and the Buy grinds longer and on a shallow angle. But we are pushing into the last day of the month so one would have to be prepared for anything. The third possible trade is to buy a gap down, the odds appear to support that as well.