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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (2364)	7/13/1997 5:12:00 PM
From: J.T.	of 94695

Bill, I will initially key in on weak Dow 30 stocks to short (put). In ABC order: T weak, and a close below 35 implies test to 32 1/2, a close below 30 3/4 and this puppy is done. ALD strong, but a close below 84 signals head and shoulders top (good put if this happens),AA, double-top at 79 area? (I can never read this stock), AXP a close below 78 suggests a test of 68 3/4 - 70 area. BA Needs to stay above 52 1/2 on a close, otherwise 47 1/2 here we come. CAT very strong, a close below 105 and next stop 96-98 area. CHV (and XON) oils near highs and I'm biased oils (one more run to new highs?). KO a close below 67 suggests lower to 62 area. DIS great stock to short if it can get up to 78 or higher interday. DD strong must hold 60 to continue north. EK a sick puppy a close below 73 and you can go below 60 for decent support. GE still strong although head now being formed. Support at 64 and 60. GM tipping over (great short) a close below 55 and 52 1/2 and lights out (Safe play here), GT very strong. HWP needs to be watched very closely (triple top or breakout based on next two weeks earnings--stay away). IBM wants 100 real bad (earnings related and not for faint of heart (gut says throwover to 103 to 105 area) IP strong but in parobolic blowoff phase a close below 48 spells trouble. JNJ and MRK pulling off highs (needs to be monitored very closely Drugs turning downward a good indicator of change in winds JNJ support at 58 1/2 and MRK 98 below on a close and short. MCD a Dow laggard and support at 47 1/2. MMM very strong. JPM strong needs to hold 101 1/2 area. MO cash cow needs to hold 42 1/2 or back to 37 1/2. PG extremely strong (game almost over) S (double top) I hate retail stocks. TRV Very strong. UK higher. UTX a close below 83 and short candidate,.WMT is higher (don't fight the tape after 5 years) This is one stock to hold in a down market. Good trading and good night. JT

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