important update no 2

Here I am again - Mr Doom and Gloom !!! This is just an update from my post below from last Saturday. On Wednesday night in the US I believe we commenced the counter rally I was speaking about on the S&P500 ie. a Wave 2 back up to around 1490 - 1510 on the cash market (1500 - 1520 on the Futures). I believe these levels will be the moment of truth for global markets . If heavy selling comes in again at these levels, the drop will be greater than what we have just experienced and will increase probabilities that a top is in place and that the potential for a major multi year trend change may well be upon us . If this occurs , I will be taking appropriate action on any long positions . I know people doubt my Elliott Wave technical position here about the markets but this latest dip in the markets is the most technically damaging that has occured since the run up from March 2003 - I'm not talking percentage drop , I'm talking technical damage - if this next slide happens , it will affect all stocks including AIM . Like I said , I could of course be wrong , but in my view this is no time to fall in love with your positions . Make your own decisions though. I want nothing more than for AIM to make new highs , but if it wont give it to me , there's no point hanging around - watch the U.S indexes very closely over the coming days / next couple of weeks on this rise back up . I don't know what the market is going to do next, but my charts have red flags waving around all over the place right at this moment. ECN.
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Subject: important update
Stock Code: AIM - AIM RESOURCES LIMITED
Posted: 28/07/07 07:41 Hotcopper Radio: AIM on BoardRoom Radio
Posted By: ecneitap Views: 118
Post #: 1986140 (Start of thread) Sentiment: Buy
IP: 203.217.xxx.xxx Voluntary Disclosure: Stock Held
I believe that the probabilities now lie with global markets having put in long term tops . My Wave count on the S&P500 has it fullfilling 5 waves down (or very close to) since its recent all time highs - once the 5 waves completes, we will get a 3 wave counter rally back up to roughly 1500 - 1520 on the cash market. I believe this will start to happen early next week (hopefully). After these levels are reached, if the market starts to downturn again, I believe we are in for a sustained bear trend in global markets over at least a couple of years in length. This may (????) signify that my alternate count on AIM may infact be correct . ie. a top is in place at 42.5c - I'm hoping not , but stay alert to this possibility. One Step at a time as always though - look for 27.5 /28c to hold on Monday then hopefully the commencement of the S&P's counter rally on Monday night to take the pressure off and give time to reassess the trend . I'm very wary of all this though based on the shorter term and longer term EW counts. Please Don't dismiss the alternate count .

cheers ECN.