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To: marc ultra who wrote (8975)	9/29/1999 8:16:00 PM
From: Mr. BSL	Read Replies (2) \| Respond to of 15132

You're right marc, 1280 did not put up much of a fight today. The charts don't look good. I see two slight glimmers of hope on the horizon. 1) Tuesday's 20 point jump in the last hour of trading was very impressive. Where did all that horsepower come from and is there any more left. Tough to ignore that spike on such a broad average. 2) The Point and Figure interest rate indicators are saying that the bottom is likely in for bonds. Confirmation would be if the Dow 20 bond average moves above 100. This sounds like a lot of interest rate mumbo-jumbo but to the P&F types (like me) the Dow 20 bond chart is the gospel. Visibility is certainly poor right now. On one hand, we can not ignore how support was easily broken and on the other hand some of the old market leaders such as EMC, Intel, DELL and AOL are showing new life this quarter. Maybe we will get some better visibility in the next few weeks via a panic sell off, or some convincing evidence that interest rates are coming down again, or some strong indication that earnings will catch up with prices, or a sell signal from you know who! Dick

To: marc ultra who wrote (8975)	9/29/1999 9:39:00 PM
From: MrGreenJeans	Read Replies (3) \| Respond to of 15132

The Case for a Short-Term Rally Positioned myself for a short-term move to the upside for the following two reasons: 1. The Federal Reserve will not raise rates on October 5th. Partially it is a belief that I have that they are willing to wait for more definitive economic data and partially because an article in the Wall St. Journal within the past few days which suggested, with board members as sources, that the Federal Reserve was not ready to raise rates in October. This is short-term bullish. 2. Third quarter profits will come in strongly. Question: Who does not know this? Only a few. Better question: Who is acting that this is really the case by positioning themselves short-term? It seems fewer are positioning themselves these days to take advantage.