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To: MonsieurGonzo who wrote (6243)	7/8/1999 3:02:00 PM
From: John Harton	Read Replies (1) of 11051

Steve, Re: NDX.X Thanks for the concisely drawn trading channel. Will look for opps as it hits the lower parallel. Out GTWGL Gateway Jul 60 c @4 3/8 bot 2 days ago at 3 1/4. Hit 5 earlier this morning but I hesitated, then it headed south ~11am and I got "cold feet"(Actually I would use a different expression, but in deference to the possible lady lurkers<g>) Regret that its much higher now but hey its a good % profit(^_^) Thanks to your hammer Dude! More on 60 month big picture.. The SOX.X tops of 1995, 97, and now 99(?) were followed by year long declines of over 40%. Most other indexes did not share SOX.X's pain in mid 96 but had mild hiccups. ALmost all, however, felt the pain of 3rd Q 98. But not $UTIL! If you had rotated out of SOX into UTIL at SOX's 1995 high you would have maintained your portfolio with some trading opps along the way while SOX plunged. If you had rotated out of SOX at its 97 high into UTIL you would have cleaned up big time by SOX'S OCT 98 low. If SOX now goes into another yearlong decline where should we be in summer 2000? Just food for thought Dude. I kind of like playing with these big cycles. Sort of examining the climate rather than the day to day weather. I don't know if it will rain this Sunday or not but I'm about 99% certain that around these parts it will be warmer on July 11th than January 11th.(^_^) Happy Trading and someone please give INTC a swift kick in the pants!! -John

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