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Politics : Ask Michael Burke

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To: bill meehan who wrote (63473)	6/29/1999 4:05:00 PM
From: John Pitera	Read Replies (1) of 132070

Bill, you are right on that note, It will be interesting to see if we sell off on Wed and thurs, or if we just have a blow-off to the upside that gets very frenzied. I was using XON as a proxy for the market. XON came back to within a buck of it's 40 wk ma at 74 when it closed at 75 yesterday. It has had super support at 75-76 as that is the horizontal line of an ascending triangle that it started in May of 1998 and broke out of this april, as well as a 4 year uptrend line. My thought was if XON bounces off of these which it has, It will be a proxy for the market to have a new leg up to new highs as XOn can move back into the 80's and possibly make a new high as well. BWDIK

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