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To: Brent Hogenson who wrote (47075)	6/30/1999 1:25:00 AM
From: double-plus-good	Respond to of 95453

brent, i was specifically looking at the java based daily charts for the bigger issues like ne,cam, vts, pgo and the like. the chart you marked showed a bearish cross several days ago with the up curl based on today's activity. unfortunately, i was so obsessed with my new religion of TA chart reading that i was paying scant attention to the volume and price shift toward the end of the day. the one time i checked this board i bumped into a modestly bearish outlook from the big bull and slider's memo that he'd sold off everything save for the select few. needless to say that combined with my newfound respect for EW, whatever it is, as preached by Gary confirmed my sense that i was lightening up at the top of a head-fake. what i ignored was the stochastic bottoms and the monthly charts which are all decisively situated at a cross in the opposite direction. simply put, i've been shaken out of 20% of my osx holdings, which on balance may not be so bad -- even though i anticipate being WRONG in my read. i still have lots of long money in the sector and have generated a few new looks this evening. vrc looks nice on the charts as does hp. if we rocket i can throw all my cash on cam and not suffer too badly. will drop you a line on your travel plans, though i am at present waiting out the rainy season in philly. dpg

To: Brent Hogenson who wrote (47075)	6/30/1999 8:19:00 AM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

Brent-in your iqc chart, notice how the peaks in the macd are getting lower and lower while the interim peaks in the osx were going higher. It is this kind of negative divergence that spells loss of momentum and end of move. when that happens, usually the troughs in the macd oscillator go much lower under the zero line than is the case at present...bottom line, the current rally wants to retest the 82ish high but may not have enough juice to do it this time and it will fail-after which another drop may cause the macd to then drop deep into negative territory.....From an EW perspective, a case can be made for slight new highs in here. However a case can also be made for a drop into the 60's. Bottom line, I'm staying cautious for the time being mainly because I don't feel comfortable with the chart. We all know the fundamentals of course, including the sellers (g).good luck