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To: Crimson Ghost who wrote (39837)	3/13/1999 12:35:00 PM
From: Gary Burton	Respond to of 95453

George--As you prob know, The First Move Up off the low is by its nature disbelieved as to its staying power. That's why it is the First-a lot of skeptics.....The problem I have is not with this First Move Up, but what to do near the end of the Second Move Up which after a retrace will power past the First. As noted, I don't think we're yet done with the First Move Up.......The $64 question will be as follows--"Is the Second Move Up a Wave 3 in a larger 5 Wave move, or will it be the C leg in a larger 3 Wave move?"----If it turns out to be a C because the retrace of the Second goes below the top of the First, then new lows could eventually ensue. If not, the Uptrend will extend still furthur. The jury is out on this for the time being and we will only have clues about this once the Second Move Up plays out (it hasn't even started yet)....In the middle of the Second Move Up, everybody and their brother will be believers again, which is when the real risk sets in--theoretically, this Second Move Up could go all the way to just below the May high of 123 or it top out much below that. Don't know yet. ..my 2c