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To: double-plus-good who wrote (48393)	7/23/1999 11:41:00 AM
From: marc chatman	Read Replies (1) \| Respond to of 95453

<<Not much conviction in today's OSX trading.>> Up 2%+ in two hours -- that's a pretty solid morning in my book. <g> I share your caution, and Gary has been excellent in his calls, which makes me even more cautious. But I would note the ascending triangle for the OSX during the past 3 months. Ascending triangles tend to break to the upside. And many individual issues have already retraced large portions of their run-ups (if I recall, Gary mentioned some Fib numbers as targets for major pullbacks -- I think they were 37%, 50% and 62%, or something like that, but I don't really understand them, so I'll leave it at that). I am also thinking that the big fund money won't be selling any time soon. Most of the buying took place early this year, and most of those buyers are sporting nice gains. Selling now would incur unfavorable capital gain treatment. Of course, the traders and shorts could take the OSX down on low volume, which is generally what we've been seeing on these sell-offs. Time will tell, as always.