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To: The Perfect Hedge who wrote (2983)	9/15/1998 6:46:00 PM
From: Lucretius	Read Replies (1) of 14427

AH!! I've been waiting for comments like this. Keep those "feel good" comments coming. The bulls must be lulled into thinking they're safe and out ofthe woods before the hammer can come down. Breadth was awful today on both exchanges for a rally day. Check out down vol vs. up vol. Japan had a good rally from mid jan 1990 to mid feb before it CRASHED. we had a good rally from mid Sept to Oct 1st in 1987 before it CRASHED. What I'm trying to say is... it has to look like it has turned before it can bomb. You're right in that we could go higher from here... then again this is exactly the type of rally and sentiment that is required before a crash. Let's watch... I will tell you this, until the US dollar is rising again (or at least not falling), this mkt CANNOT go higher for any sustainable period BTW- the P&Fr's have been saying a tuirn is imminent since their bullish% turned negative.

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