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Pastimes : Ask Mohan about the Market

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To: John Hunt who wrote (12304)	12/24/1997 3:16:00 PM
From: Joan Osland Graffius	Read Replies (1) of 18056

Hi John, >>19 of the 30 Dow Industrial stocks are now below their 150 day exponential moving average. And 5 out of the last 9 weeks the DJ has traded through the 30 week exponential moving average line and this line is fairly flat. I was talking with one of my brokers yesterday discussing January and what I should do since I have a fair number of short positions. He is a real smart fellow, Warton type. Interesting thoughts on this market in that he does not believe institutions will buy stocks with Asia or SA exposure. Recommended I sit on my shorts and keep moving my stops down as the the 30 week moving averages decline and just let them stop out. BTW I am shorting these DJ suckers as they drop through the 30 week MA and putting stops on their last push for glory. As they try and recover and can not I am moving my stops to the 30 week MA after the fall. HWP is the only one that has stopped out. The rest are behaving nicely.<ggg> The NAZ 100 has broken below the 30 week exp MA and cleanly trading below it for the last two weeks. Also the curve has turned south. Joan

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