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Strategies & Market Trends : Giant LEAPs...

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To: Jerry Miller who wrote (202)	9/17/1997 6:49:00 AM
From: William H Huebl	of 315

Hi Jerry, - The extreme volatility the markets are experiencing is not a sign of a bottom... - That DOW double/triple bottom you refer to does not look all that solid to me... - In spite of short term indications the markets may be going higher, the longer term indications are that we are in a sell-off phase rather than a move higher. What I am looking for is a test of the 7,975 area... if DOW moves through it smartly then I expect a retest of the highs. THAT BEING SAID, if the DOW takes out 7,500... look for intermediate lows in the high 6,000s. Remember you heard it here first! BWDIK? Regards, Bill PS... DELL may reach as high as 102 before selling back off to the 93-95 level... possibly as low as 89... it is one of the stronger tech stocks but is reaching it's Raff channel upper trendline. At that point it can (only) appreciate at 10% per month - gag me with a spoon. HOWEVER, it swings more than that in some of it's sell-offs. I would wait for one of those swings BEFORE buying... and watch what happens to the DOW.

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