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To: Gary Burton who wrote (41390)	3/31/1999 5:04:00 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

Gary: You are right . Today was the end of quarter. Action should have been a lot better.

To: Gary Burton who wrote (41390)	3/31/1999 9:49:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

<< Personally, I'm sticking with my 57-62 scenario. >> GaryB; So it aint so ! ---- OSX 57 -62 ? ......No Way Jose <VBG> ...time to get a new set of Mo-Jo Beads ! Elliot Schmelliot <VBG> ! ....take a look at them thar waves again ! Seriously; I think that this is where a somewhat ''pre-formulated'' technical analysis system has a hole. Stochastics, MACD, RSI, Bollinger Bands in my acknowledged limited TA experience; all act, react and predict, based on actual market action with no predetermined formulations. They do not treat all rallys, or all retracements the same. Doesn't EW kind of try to fit the markets action into an all ready predetermined formulation in predicting retracement, or Rally price targets ? It seems EW uses a 5 wave sequence most frequently; what happens when a Rally has 6, or 7 waves ? Isn't it virtually impossible in a choppy market like this, to determine where waves start and end, or what actually encompasses a series of waves ? Can you expand on your EW analysis of this present enviroment and perhaps if there appear to be any alternative EW interpretation/analysis of this present Rally . Thanks in advance - trying to keep an open mind ... I don't see 57 on the radar screen anywhere on any indicators I'm viewing.... PS; papaya is correctamundo - ie: << I thought end of quarter was the third day prior to the last day of the quarter for settlement purposes. ??? >>

To: Gary Burton who wrote (41390)	3/31/1999 11:49:00 PM
From: SliderOnTheBlack	Respond to of 95453

An Interesting OSX chart / perspective ... iqc.com ...(stolen) from drsvelte's Invest Ltd post (VBG) - a good perspective as to how over/underpriced we are.... now someone please explain to me, with $17 Oil and the upcoming OPEC cuts, how do we belong here, let alone a retracement to OSX 57-62 ? I am using ultra tight stops and I am 25% in major Integrated Oils, and 25-50% E&P's depending on trades; and only 25-50% in actual OSX/driller & service stocks. But, if we retrace to 57-62 - we may see an inflow of cash unlike anything we've seen. I just don't think we will be so fortunate to get a quintuple bottom trading opportunity again.... I'm approaching stop levels - or sell & rotate levels for myself here shortly. Tomorrow will be interesting... I could see a brief intra day low and a touch of OSX 65ish - but if so; we should see a rush of cash... I still think that we are seeing some heavy shorting and a shakeout attempt once again - they may try to ''gun the stops'' tomorrow and then start entering. I expect Monday to be a huge buying day, off of a 3 day weekend; and perhaps the start of the next leg upward to perhaps OSX 72-78 ish . I just see the fundamentals heavilly overweighting the technicals here...but, I will not carry these stocks any lower - taking profits into these retracements is prudent. I will be sitting in a good deal of cash if we go sub OSX 65-66 - just have to protect trading gains and the ride from OSX 45-48-50 gains here. I just do not see how anyone can just buy & hold through what ''could'' become the 5th trading range of OSX 45 to 70ish... If one can take the middle 15 points out of these 25 point swings and do it 3-4 out of the 5 times of late - that is a nice little return...not to mention a little ''side tradin'' <VBG>... good luck all - it doesn't get any better than this... tell me this isn't as exciting as the NCAA Final Four <VBG>...