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To: Ken Benes who wrote (33070)	5/3/1999 11:27:00 AM
From: Jim McMannis	Respond to of 116762

Ken, RE:"It appears that for something more substantial, an impulse wave pattern, to be in the cards, the XAU is going to have to breakout above the 85-87 range after a correction from that range is complete."... Based on a 200 day analysis it appears that your E-wave analyser still has the XAU in a downtrend, and rightly so. However, 20 point counter trend moves are plenty to trade and right now my intermediate trend indicators suggest the trend is now up so I will trade with that trend. I'm hoping for a little consolodation here to re-enter although I still hold 50% of my normal long position. Jim