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

To: Arik T.G. who wrote (19490)	3/26/1999 5:44:00 AM
From: Bull RidaH	Read Replies (2) \| Respond to of 44573

Arik, I would have liked to have seen MSFT hold 175 today to maintain the optimum bearish read on the stock. But as long as it does not take out 190, and get's back below 175 quickly, I won't have a problem with believing it will join in with the selling. My read says MSFT completed 5 large scale waves off the '90 base at the peak in late January. From there, I see 3 waves down into the mid Feb. low which i label A, a quick move up into the Feb 23rd or 24th peak for a of B, the quick drop into the first of March for b of B, and since then, 5 waves up, with the 5th of 5 in process of completing with the "big soldier" of yesterday, a common occurance for 5th wave capitulation patterns. So I would have us very soon (tomorrow maybe?) beginning the C wave down in this expanded flat corrective pattern. The completion of this C wave down will complete the corrective wave, which is probably just A in a much larger scale ABC corrective wave. The stock will probably be range bound from 100 to 200 for the next 3 years... if not more. Regards, David