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To: Jacob Snyder who wrote (45072)	5/20/1999 8:57:00 AM
From: Gary Burton	Read Replies (3) \| Respond to of 95453

Jacob--Based solely on EW, it would not surprise me if RIG makes a new low. What bothers me in looking at the chart is that the rise off the sub20 bottom seems to have evolved in a 3 wave fashion, not 5....Threes are 'corrective' (what one sees before resumption of the main trend) while 5's are 'motive' oriented signalling more to come in that direction)...To add to that, the decline off the recent peak seems to have the look of a 5 wave in progress, not 3...An EW type would be inclined to be cautious in here. I think it will do one more 'blip up then blip down' (and posssibly 2) before the end of the 3rd wave (or C) is finished.... At that point, will it stop there (so the 3 is really the end of a 3 wave C) or will it continue into a 5?-stay tuned. My2c fwiw