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Politics : Idea Of The Day

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To: James Strauss who wrote (32598)	8/28/2000 7:44:18 AM
From: Jerry Olson	Read Replies (1) of 50167

Jim keep up the nice work here..been very busy of late but wanted to say..i think we are due for a nice pullback from very overbought conditions.. all the indexs are at resistance...and there's doji's everywhere on almost every chart... not looking for anything drastic here..maybe 58-78 SPX points..Carpino has cycle lows coming in here on the 31st to the 1st... from the July 17th Top, and now a lower top so far..my guess 1455ish should be the first downside target...with a larger move down at 1436..which i do not see happening here... the FED is DEAD...but i have this sense that the markets are very worried about corp profits and the economy slowing too much...a change of sentiment could keep a lid on the markets for now... we do have to be careful about major warnings in Sept...what with a holiday weekend coming up here..slow trading, any move down might be exagerated... thanks for your continuing updates here.. my regards OJ

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