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Politics : Idea Of The Day

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To: Jorj X Mckie who wrote (26255)	5/16/1999 2:10:00 PM
From: Jerry Olson	Read Replies (1) of 50167

XXXXXXXXXXXX------Ms.XXXXXXXXXXXX just looked at the OEX & SPX charts, they're almost indentical... here's my take....OEX--one incredible chart pattern to say the least...there have been no sell signals all the way up to the top... this week i think we will get a sell signal, but as we know the first sell signal in a trend should be ignored...this will be no different... so supports start at 665-655-645 down to about 630 & 610...i doubt very much we see 610 on this run down, unless AG changes his bias toward tightening...and i don't see the FED doing even that...no reason...the markets have corrected interest rates for them...they should stand pat till futher info comes in next 2-3 months...I feel the CPI was a one time abboration...there is no inflation to speak of... at the same time, we could get reversals in the Hi/lo and percent of 10 indexs...that would make me think we correct even more...610 would be doable...that's hard support... also the NYSEBP stopped going up last week..and could consolidate without reversing down 3 boxes...a directional change of that magnitude wouldsignal a major correction imo...i don't think that will happen..52% is not out of the question, but i doubt that too.. anyway i've taken some stuff off the table for 2 weeks now...feel light and tight, ready to pounce on some techs/nets/semis... if AG is kuul??? watch the bonds rally and the financials explode... also on Tues even if he stands completely pat, i think we will selloff some more anyway... happy Sunday....

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