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POKERSAM

07/13/06 10:26 PM

#9520 RE: glennob #9508

glennob - The bounce I have been referring to is a of an abc correction up. If it were to begin at 36 it would probably carry the Qs to 38.64. I need to do more work on that to be sure, plus I need to know exactly where wave 5 ends. Right now it is today's close. If tomorrow we drop below 36 by more than a little we have a long way down to go to complete 5. What I expect is a drop to 36 and then Monday the bounce to a begins with a vengeance. Once achieved we will drop to b and then climb to c. This is the most common correction pattern however since corrections are counter trend they can become very complex. When the correction is over at b we will begin another huge 5 waves down which will make the one we are completing now look like a picnic in the park.

I looked at the chart you recommended and it is nice to see some comfluence of indicators from another source.

JMHO
POKERSAM