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Strategies & Market Trends : SPARKY'S CORNER

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To: Bruce A. Brotnov who wrote (3550)	8/28/1998 12:48:00 PM
From: Walk Softly	Read Replies (2) of 4142

Bruce... I think that is wise..... I'm selling into any strength... don't get fooled by ANY intraday strength... DJI has broken major support areas... and the R2K continues to lead us lower having turned into the market bellweather.... there is really no place for these big fat turkeys to go for awhile (R2K pe about 12, S&P pe about 24, market leaders pe = 70).... any rally must be recognized for what they are, dumping opportunities for the Big Boys to the retail folks... if we break 7680 (log uptrend line), which I believe we will, the magic number is 7000 (25%), next stop 6400 (30%)... there is little to stop us except hoping-against-hope rallies (I'll be using this term alot overthe next few weeks or so.... so I'll just refer to it as a HAR, as in har har har).... Forgot to mention.... getting out the SPX log graph.... eyeballing makes a 920 test a certainty..... we probablt break that for awhile also... ES PS beautiful day here on the Northcoast... so I think I take a toot on my scooter.... and no, not even DELL YHOO AOL CSCO are going to buck this trend...

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