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

To: robert b furman who wrote (36977)	2/2/1999 10:19:00 AM
From: Bull RidaH	Read Replies (2) \| Respond to of 94695

Bullet Bob, You picked up on one of the finer points of that read. IF we do go to new highs, it WOULD slightly change the preferred count, but no matter what count we have off the lows, the market will tumble from the 1315 Mar futures area. The new preferred and close second alternate would read as follows: 1) Wave 1 off the bottom Oct. 8th ended Nov. 28th, A of 2 on Dec. 14th, then a of B of 2 on Jan. 11th, a of b of B of 2 on Jan. 15th, wave b of b of B of 2 on Jan. 20th, wave c of b of B of 2 on Jan 25th open, then the ending diagonal from 1/25 early low through today or Wed of this week for c of B of 2. This would put us in a position of just starting C of 2 from the end of this pattern somewhere north of 1285, rather than it starting on Jan. 11th. If this scenario proved to be correct, we may not get the big zonker wave 3 of C before Feb. Exp. 2) From the October 8th beginning of this 5er, wave 1 ended nov. 29th, wave 2 on dec. 14th, wave 3 on jan. 11th, wave 4 on jan. 25th, and wave 5 is the ending diagonal that we're finishing today or Wednesday. This scenario looks even better on the SPX than the scenario i've been working, because the SPX surpassed the wave B limitations during the 12/14-1/11 rally. A drop below 1262 now would put us in danger of a breakdown, and would suggest the 5th wave may have already ended from yesterday's highs. Congratulations on your fine trading. You've probably made more money than all of us put together by being steadfastly bullish on the techs, and being willing to put money to work when things looked gruesome back in Oct. Regards, David