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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Judy who wrote (17593)11/9/1998 7:50:00 PM
From: dennis michael patterson  Read Replies (2) of 42787
 
Favors: is he kidding?

Jerry Favors Analysis Monday November 9 8 pm
At the lows today the Dow was down as much as 129 points.
The Dow then bounced back to close down 77.50. It has been
our position that the Dow should see some sort of short term
high in this time frame and then begin some sort of decline.
The Dow reached a high of 8985.50 today but closed down 77.50
at 8897.96. Our basic position remains unchanged.We could
allow for some further rally very short term but that rally
would be very short lived,and followed by a severe decline in
stock prices.That remains our position from here.Any further
rally above 8990.91 will prove short lived and will be
followed by a declined to new lows.
For now any rally above 8898 on a print basis Tuesday
morning will signal some further bounce or rally attempt.
However if that rally fails and the Dow falla back below 8845
on a print basis a repeat Sell Signal will be given,calling
for lower prices at least short term.
Any decline below 8845 on a print basis tomorrow will
signal lower prices.If the Dec S&P futures falls below
1127.50 look for the Dow to fall below 8845 on a print basis.
For now we want subscribers to remain flat until we give
you a signal to turn either the short or long. If we had to
choose right now we would want you to remain short. But
there is just not enough evidence that a final top is in.
We will give you more specific instructions once we see
tomorrow's action.
No changes on Bonds or Gold.
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