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<DIV>Steven
,<BR>
I can see how you have come up with your count, & I did<BR>initially onsider
it, however I have a difficulty with the irregular flat<BR>that your count
implies. Do understand that I am after the same thing as<BR>you, that is the
correct count & hence profit, & therefore critisizim of<BR>each others
analysis is a healthy
thing.<BR> I
normally would expect that in an irreggular flat as you are<BR>proposing ,
the b wave would be limited to a 1.618 internal measurment of<BR>wave a.
Wave c is there fore not expected to decline very far due to the<BR>implied
strength of wave b.<BR> Also steven,
if there is a 5 wave count upto julty 8 as you point<BR>out, we should expect
that theirreg flat correction to end at 1140 on sept<BR>futures, which is the
wave 4 in your count, or there
abouts.<BR> However to this I must add
that to my understanding irregular flats<BR>in which wave b exceeds wave a 's
top & where wave c exeeds wave a bottom ,<BR>are very rare as it implies a
confused market.<BR> I was wondering
if you know what the people from EWI are saying<BR>these days. The last I saw of
them, they had equities in a blow-off stage, &<BR>at the end of a grand
super
cycle.<BR>
Your
thoughts<BR>
regards Peter<BR>-----Original Message-----<BR>From: steven poser <<A
href="mailto:swp@xxxxxxxxxx";>swp@xxxxxxxxxx</A>><BR>To: <A
href="mailto:derivatives@xxxxxxxxxxx";>derivatives@xxxxxxxxxxx</A> <<A
href="mailto:derivatives@xxxxxxxxxxx";>derivatives@xxxxxxxxxxx</A>><BR>Date:
Friday, 24 July 1998 20:29<BR>Subject: Re: S&P500<BR><BR><BR>>Peter - I
am in a similar count to you, though not exactly the same. I<BR>>counted to
July 8 as five waves and the (option expiry induced) rally<BR>>last week was
wave-b with this drop as wave-c. A 38% retracement then<BR>>would be at 1132
in cash s&P with 50% as 1121. 23% has already been<BR>>surpassed at 1145.
This implies strength going forward. The drop is a<BR>>bit strong admittedly
for an overall bullish picture, but if the onite<BR>>strength continues, that
would fit in and the market had gotten<BR>>exceedingly overbought. Even if we
continue lower to 1132/1121 would be<BR>>reasonable. The part I like least
about the count is a two bar a-wave,<BR>>but since I do not see a top as
being in yet, this could work. Your<BR>>count too would suggest new highs I
gather (though the "official" count<BR>>for 1929 had a huge rally
for wave-b too).<BR>><BR>>peter
wrote:<BR>>><BR>>>
Fellow traders,<BR>>> In regards to the
S&P500, the following Elliott Wave analysis is<BR>>>
presented<BR>>> In light
of the sharp decline over the last few<BR>>> days, I m leaning to counting
the rise from 6/16 as corrective. Let me<BR>>> tell<BR>>> you
why.<BR>>> Counting the
rise as impulsive forces us to count wave 4 as a<BR>>> running complex
correction, which implies power, yet wave 5 of that<BR>>> count
is<BR>>> only as long as wave 1. Wave 3 is just slightly longer than
1 & 5.<BR>>> Hence<BR>>> there is no real extention in any of
the 3 supposed impulsive waves,<BR>>> yet the<BR>>> presence of a
running complex correction should be confirmed by an<BR>>> extention
in one of the waves.<BR>>> The impusle wave to
follow a running complex usually needs to<BR>>> display<BR>>> power,
however I'd settle for wave three to at least be extended, yet<BR>>>
that<BR>>> is again not the
case.<BR>>> Further, as
running corrections typicaly relate by external<BR>>> fibo's,<BR>>>
you will notice that if the rise from 6/16 to 29/6 can be counted as
a<BR>>> zigzag, a .618 ext fibo measurement gives the1199 high. So
depending<BR>>> one<BR>>> ones, point of view, the entire rise may
be either a triple three, or<BR>>> even a<BR>>> double
three.<BR>>>
Your
thoughts<BR>>>
Regards Peter<BR></DIV></BODY></HTML>
</x-html>From ???@??? Fri Jul 24 07:05:25 1998
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Date: Fri, 24 Jul 1998 09:47:38 EDT
Reply-To: Bbbazusa@xxxxxxx
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: Bbbazusa@xxxxxxx
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Gen : Eddie Kwong "Realtrader since 1976"
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Eddie:
1. Since you are a realtrader from 1976, and we hardly ever hear from you on
specifics of trading, and the phrase " I work for Kasanjian research" is a cop
out if used, and since we are exposed to all types dishing out advice, while
in fact with all your knowledge and wisdom you are just lurking in the
background, - I WOULD LIKE TO TAP INTO YOUR KNOWLEDGE.
2. So how about a list of 10 books "EDDIES TOP TEN "HAS SOME MEAT" TRADING
BOOKS", not including the usual Market Wizards, Stock operator. and all the
psychology books. Just some good solid technical analysis.
3. How about the rest of the list, asking questions, specific, non time
consuming questions to tap into Eddies vast experience.
4. How about an interview of Eddie Kwong - I am sure we would like to know
your views on trading etc
Edgar
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