To: J.T. (352 ) 
From: J.T.  Friday, Jul 16 1999 8:51AM ET
Reply #  of 388  

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Part 1
"RUT has finally put in a new all time high. 
I would like to see this second day follow-through approach
370 to get to that coveted 400 level. Let see if the 'smalls
continue to play."
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Q: Did we get this second day follow through  higher? Let's look at
the evidence in descending order:
  Date     Open   High   Low   Close  
27-Jul-99 442.88 446.49 442.88  446.48 
26-Jul-99 448.38 448.38 441.76  442.87 
23-Jul-99 451.49 451.58 446.73  448.38 
22-Jul-99 454.63 454.63 448.43  451.49 
21-Jul-99 453.55 455.37 452.04  454.63 
20-Jul-99 461.37 461.37 452.75  453.55 
19-Jul-99 465.26 465.69 460.79  461.37 
16-Jul-99 465.8  465.8 463.97   465.26 
15-Jul-99 461.46 465.8 461.46   465.8  

As Sargeant Friday would say: Just the Facts MA"AM.
The answer is a resounding NO.

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Now on to Part 2:

"Now tha DJX is past option expiration, DOW can have this run to
11,300 first target. Let see if it pulls back from this level or
continues to march toward 11,400. My ultimate target is 11,895. I
will be out of market if we get this close below 10,900 DOW."
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I did not say I will be out of this market on "TWO"closes
below 10,900 DOW but ""this close"-- any close below 10,900.
In fact, the market closed below 10,900 for one day and moved back
above it the next two days. Look at the evidence:

  Date      Open    High      Low     Close  
04-Aug-99 10675.66 10901.8 10585.17 10674.77  
03-Aug-99 10645.96 10812.8 10538    10677.31  
02-Aug-99 10655.15 10849.2 10551.3  10645.96 
30-Jul-99 10791.29 10825.8 10647.86 10655.15  
29-Jul-99 10971.36 10971.4 10714.03 10791.29  
28-Jul-99 10979.04 11023.9 10925.85 10972.07  
27-Jul-99 10863.16 11031.3 10862.84 10979.04 
26-Jul-99 10910.96 10929.3 10831.81 10863.16 
23-Jul-99 10979.67 11069.6 10813.7  10910.96 
22-Jul-99 11002.78 11140.5 10796.7  10969.22  
21-Jul-99 10998.94 11142.7 10865.7  11002.78  
20-Jul-99 11130.06 11245.6 10914.1  10996.13  
19-Jul-99 11209.84 11321.6 11069.9  11187.68  
16-Jul-99 11188.63 11300.1 11069.3  11209.84 
15-Jul-99 11200.03 11313.4 11072.7  11186.41 

Thanks to UK today, DOW is masking serious weakness
going on right now in overall market. This is about 
to change as DOW is going to attempt to break support
set back in June at 10,471 and hang the bulls by the
horns. 

Whatever happened to positive earnings season that was
suppose to send the Bears to their graves while I was
out East? What a rally. DOW closes 100 points higher from
May 13 high.<ggg>

The market voted DOWN EASY AL'S NEUTRAL STANCE AND NOW
THE SPIN DOCTORS SEE THE WRITING ON THE WALL. TIME TO
PAY THE PIPER.