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To: Defrocked who wrote (63195)	9/21/1999 9:28:00 AM
From: Investor2	Read Replies (2) \| Respond to of 86076

Nice post. Re: Its beginning to look more and more like the 50DMA(1364) and 20DMA(1360) for SPoos are becoming ceilings for equities." I assume that means that a close above the 1364 level would be quite bullish. Do you agree? Best wishes, I2

To: Defrocked who wrote (63195)	9/21/1999 10:03:00 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 86076

add to that that the VGY has broken it's August lows and the NYA is now below it's 200-dma...not a pretty picture technically. on top of this dollar volume of OEX puts has reached record lows this year, indicating that fund managers don't believe hedging to be a necessity anymore. this type of complacency often precedes sharp declines.