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This mail was send to me by email today. Kinda pleasent weekend ahead us...........
On his websites "about" page, this guy tells that he's doing his "Ewaving" only since
a couple of years ago.
Apart from his mix-up in the waves alogorythmn and leaning on the 'childish' known, and
as such not to be taken too seriously Fib no's sequence system, system wich aparantly
only make sence to its "followers" and not to science in general or as is scientificaly
proven to be correct, have found his mailing to be very intresting tho.
Also:
Twice this week, I have tried to pass along info on the ELWAVE-program, but neither
mailings were passed along by the Equis' Majorodomo.
At least it was not -as a sort of 2nd received 'confirmation' mail- send to my email adress,
wich 2nd mailings usualy I receive within 24 hours since I have last mailed the original.
They either won't let these info-mails being passed along to other List-members or, as
its in the hyper-text HTML layout format, they didn't get pass the authorisation server.
Tonight I will re-send it in an asci-txt-form. The mail has as subject "ELWAVE".
Let me know if you do not recieve this -tonight- one either.
Regards,
Ton Maas
Ms-IRB@xxxxxxxxx
====================================================
1 THE WOODSON WAVE REPORT UPDATE OCTOBER 12, 1998 (PART2)
http://www.galaxymall.com/finance/stockmarket
NEWSLETTER $15 PER ISSUE, OR $165 YEARLY SUBSCRIPTION INCLUDES 12
MONTHLY ISSUES PLUS SPECIAL INTERIM REPORTS
CRASH (PRIMARY WAVE 3) DOWN HAS BEGUN!
Since part one of our October newsletter was mailed, the wave count has
made itself alarmingly clear. From part one (September 28, 1998) Woodson
Wave Report: “A .382 relationship suggests a target of 8151. The high on
9/24 was 8182. The corrective wave 2 could be over at the 9/24 high. A
third wave down will follow.”
Since that high of 8182, the Dow has broken down in a clear 5 wave
pattern to a low of 7467 on 10/8 (see chart on p. 2). This is wave (1)
of intermediate degree. Wave (2) is a fibonacci .618 at Dow 7908. The
print high on 10/9 was 7919. That means… you guessed it, wave (3) down
is due now!
What exactly is a third wave? From Elliott Wave Principle by Frost and
Prechter: “Third waves are wonders to behold. They are strong and broad,
and the trend at this point is unmistakable… Third waves usually
generate the greatest volume and price movement and are most often the
extended wave in a series. It follows, of course, that the third wave of
a third wave, and so on, will be the most volatile point of strength in
any wave sequence.”
Behold, the Dow is about to embark on intermediate wave (3) of primary
wave 3. A third wave of a third wave. This will be the “point of
recognition.” There will be no doubt about the direction of the market
now. The word “correction” will be replaced with words like “crash,”
“carnage” and “bear market” in the media. It will be a sight to see.
It will take most by complete surprise. But the warning signs are
everywhere: · The Nasdaq is at a 15 month low, falling below its October
1997 panic low.
· · The Russell 2000 index is at levels not seen since the lows of July,
1996.
· · And last week, Investor’s Business Daily’s Mutual Fund Index broke
to new lows.
The IBD’s Mutual Fund Index has been a great leading indicator so far in
this bear market. The decline in that index from the mid July peak is
now greater than the crash and bear market of 1987. These indexes have
all fallen below the lows registered on September 1 st . The S&P and Dow
are next.
2 THIS TIME IT’S DIFFERENT
You’ve heard this one before. Unfortunately, this time, as far as
previous crashes are concerned , it is true. It will be worse. · In
1987, the government stepped in immediately after the crash to save the
market. The Fed pumped money into the banking system to help save it.
This time, in 1998, it seems as though the Fed is doing all it can to
help keep the market up before the crash. When it is all over, their
bullets will be spent. This time, all the king’s horses and all the
king’s men, won’t be able to put humpty-dumpty together again.
· In 1929, the crash caused a decade long depression. The market took
over 20 years to recover. At that time, the United States was a creditor
nation. This country fell into depression at a time when every other
country owed us money. Now, we are a debtor nation. This is a huge
difference. Add that to the fact that bankruptcies are soaring, credit
card debt is at all time highs, and everybody is in the stock market.
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