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


To: The Perfect Hedge who wrote (38636)3/17/1999 11:47:00 PM
From: bobby beara  Respond to of 94695
 
B* it looks like to me the recent positive news on IBM was not enough to even get it back up into it's panic sell-off gap on earnings warning and the XCI has been lagging the nasdaq.

The chart has an ABC correction into 160 area and now an ABC countertrend rally into 3/11, which could be interpreted as a wave d or 4, the next wave down would be a five or e.

I would think shorting IBM here has a high reward to risk ratio, especially with acampoopoo bullish -g-

I sold all my longs today, except one, but i haven't gone short yet.

bwdik,

bb