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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (22182)	8/5/1999 9:04:00 AM
From: Lee Lichterman III	Respond to of 99985

I found a last possible support area right where we are now on the major indexes. If these fail then I feel that our chances of seeing DOW 10200, SPX 1270 and even 1230, NASDAQ 2500 then 2350 and OEX 645 to be highly likely. We are running out of lines inthe sand. We need a bounce and we need it quick. As I said earlier though, until there is some sign of panic, I think Don is correct in that the bounces will be short and small. fed injections of funds are not even slowing us down as the money is used up in the first few hours of the day then the slide continues onward. If we keep going as we are now however, I feel the chances for a bounce next week are favorable as we near some of my targets. If this continues to drop the next few days, I am going to take leave again next week so I can trade what I feel will be a very volatile week. Good Luck, Lee