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<DIV><SPAN class=170083414-07111998><FONT color=#0000ff face=Arial size=3>Tom,
what is the "Intermediate Term Breadth Momentum
Indicator"?</FONT></SPAN></DIV>
<DIV><SPAN class=170083414-07111998><FONT color=#0000ff face=Arial
size=3></FONT></SPAN> </DIV>
<DIV><SPAN class=170083414-07111998><FONT color=#0000ff face=Arial
size=3>Thanks </FONT></SPAN></DIV>
<DIV> </DIV><BR>
<P><FONT size=2>Al Stephens<BR>astephen@xxxxxxxx</FONT> </P>
<DIV> </DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #0000ff solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV class=OutlookMessageHeader><FONT face="Times New Roman"
size=2>-----Original Message-----<BR><B>From:</B>
owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]<B>On
Behalf Of</B> Tom<BR><B>Sent:</B> Saturday, November 07, 1998 4:50
AM<BR><B>To:</B> metastock@xxxxxxxxxxxxx<BR><B>Subject:</B> Re: NWAC, KEA
and AMAT<BR><BR></FONT></DIV>
<DIV><FONT size=2>Harley, most of us have experienced what you are going
through now...take Rick's and the other members advice that has been
posted. My two cents - - what turned my trading around 100% was
staying on the right side of the market and I have found the Intermediate
Term Breadth Momentum Indicator to always keep me out of trouble. I
would recommend Harley that you really consider going short/long when that
indicator is rising/falling. That indicator portends the overall
health of the market. </FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Best of trading to you and the other members.</FONT></DIV>
<DIV><FONT size=2>Tom</FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><SPAN class=170083414-07111998><FONT color=#0000ff face=Arial
size=3>............</FONT></SPAN></DIV></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Sat Nov 07 07:52:45 1998
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Date: Sat, 07 Nov 1998 11:54:01 -0300
From: Rajesh <rajesh@xxxxxxxx>
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Nov 7, 1998
To recap, we are expecting a 5-wave pattern to form from the recent
bottom of 7467. This 5-wave pattern will exceed the all time high
of 9367.
1st wave - From 7467 to 8085 = 618 points
2nd wave - From 8085 to 7878 = 207 points = 34% of 1st wave
3rd wave - From 7878 to 8653 = 775 points = 125% of 1st wave
Since the 3rd wave is less than 161.8% of the 1st wave, it cannot be
the extended wave. Therefore the 5th wave MUST extend. The minimum
length of the extended 5th wave must be the distance from 0 to 3
(7467 to 8653 = 1186 points) or 161.8% of wave 3 (775 X 1.618 = 1254),
whichever is less. So it must be a minimum of 1186 points from the
termination of wave-4.
If wave-4 terminated at 8329, then the minimum target for the DJIA is
8329 + 1186 = 9515. Mind you, this is the absolute MINIMUM target.
I am currently looking at 2 possibilities. These are:
1. The 4th wave terminated at 8329. In that case, the 5th wave is in
progress. Draw the 2-4 trendline running through 7878 and 8329
and keep it firmly in place. All the action of the extended 5th
wave must take place above this trendline. If this trendline is
broken, then it means that the 4th wave is still not complete.
The 5th wave will itself consist of 5 waves of one lesser degree.
If the 5th wave is indeed in progress, I think that the (1)st wave
of the 5th wave has completed and the market is currently in the
(2)nd wave of the 5th wave. This (2)nd wave is skewing upwards
indicating a powerful extended (3)rd wave of the 5th wave.
2. The 4th wave has not yet terminated. In that case, the 4th wave
will either be a running correction or an irregular failure. Both
are a-b-c flat patterns. At 8990, the b-wave is currently 203% of
the a-wave. In a running correction, the market will not violate
the 8653 level and in an irregular failure, the market will not go
below 8329. Both patterns are corrective patterns consistent with
our reading that the next wave to follow is a powerful extended
wave of a 5-wave sequence. In a running correction, the a-wave
and the c-wave tend towards equality in either price or time and
often in both. Since the b-wave is already more than 200% of the
a-wave, it can meet the requirement of equating with the a-wave in
terms of distance travelled.
Both possibilities recommend that you remain firmly invested in the
market.
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