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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (10728)	4/12/1999 7:33:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Bobby, <rnwk is extended..> you have a gift for understatement <g> hb

To: bobby beara who wrote (10728)	4/12/1999 7:41:00 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 99985

OT * You're bullish? Nooooooooooooooooooo!!!!! GZ

To: bobby beara who wrote (10728)	4/12/1999 7:49:00 PM
From: HG	Read Replies (1) \| Respond to of 99985

<<<RNWK is extended and looks like it has completed five waves up from the 3/24 low, as does CMGI, which I sold several sessions ago :-( >>> You know, even with the sad face for comfort, you make me lose my sleep with comments like that ! Not to mention the fact that I was just planning to jump into cmgi tomorrow, depending on the market conditions - since the strategy of selling puts and getting assigned failed miserably ! Hmmmmm....now I'M befuddled ! :-( What to do what to do what to do !!!! PS : Could you please explain what waves are ? do you mean there were 5 rounds of increase, or that it increased in 5 incremental waves ? Or is it a technical term ?

To: bobby beara who wrote (10728)	4/12/1999 8:35:00 PM
From: j.o.	Read Replies (2) \| Respond to of 99985

Bobby - how do you see the wave count in the SPX right now? On the MDA website the elliot-count chart from Bear King showed the 5th wave ending at a MAX of 1357. I tend to agree,and have 1360 (roughly) as my trendline resistance in the S&P. I thought after CPQ that we would never get there, but the charts will have their way... Do you agree with his count, and what, if anything do you think this signifies? I have to remain bearish on this one. Now we have completed the waves and hit my target. I am glad that I was not too overzealous this a.m...I would have been hurting after this upmove had I put my shorts in place on the open. j.o. PS - Thanks again LG for providing a site which has such great reference material. And thanks to Donald Sew for his hard work on the Index Update. I find your analysis of the market to be very insightful.