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Strategies & Market Trends : SPARKY'S CORNER

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To: Sparky Beardslee who wrote (3581)	9/2/1998 11:07:00 AM
From: Walk Softly	Read Replies (2) of 4142

Sparky... that would be SOP for a contra-trend rally.... we could be setting up for a whole new wave of selling come October.... given about 15 more days of consolidation at these levels.... problem is, the market just really has no where to go on the upside considering a global slowdown.... Housing weakness indicates Fed not expected to lower rates in the near term.... Fed wants another 1000-1500 points off the dow.... all the stuff I'm shorting looks sick.... bumping right up against resistance right on schedule.... this correction is dramatically different than last October's..... we've broken our 5 year trend channel.... and we haven't snapped right back atop our 200 day MA...... can't see where the buying power will come from with the way over-weight dominator's charts breaking down (CSCO YHOO DELL AOL) ES

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