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Strategies & Market Trends : SPARKY'S CORNER

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To: Bruce A. Brotnov who wrote (3575)	9/1/1998 1:07:00 PM
From: Walk Softly	Read Replies (1) of 4142

Bruce... Rochester on the Northcoast... but, right now I'm in FL... Flagler Beach, North of Daytona.... it's very beautiful here, huge long stretches of beach.... I'm still shorting on rallies.... DJIA could fall to the 6100-6200 region (worst case)... (using a weekly log chart, 5 year), this puts us equidistant to the downside from the mean (LSQ regression line) as we were to the upside (coincidentally, this is where the 200 week moving average is, R2k is trading below its 200w MA).... although, we're seeing what some would call reversal volume today on pace for 1.5 billion shares..... still the precursor R2K seems to portend further downside for the DJIA.... let's keep looking for the next GTAX CTYA EK METG SBL JKHY DRTE NTAP still very pricey for this market ES PS I guessed the Fed would be called to task to lower rates.... being they are so far out of step..... so the market valuation (when it comes right down to it) becomes a political condition:-)

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