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To: BigBull who wrote (65134)	4/23/2000 10:32:00 AM
From: jim_p	Respond to of 95453

BigBull, I concur that we have not seen the bottom in Tech land, and we will sometime very soon. It is an understatement to say that is will not be very pretty. Buying Tech stocks on the dips right now is gambling, not investing. Oil stocks have historically done very well in periods of rising interest rates and bear markets. My only concern is the level of margin debt that is safe to maintain in the oil sector in the event of a market melt down caused by the finally leg down in the Tech's. My personal opinion is there is still plenty of rotation to follow from the Tech's, but I would hate to get wiped out by a Tech related market meltdown. Happy Easter Jim

To: BigBull who wrote (65134)	4/23/2000 1:12:00 PM
From: double-plus-good	Respond to of 95453

bull, i wanted to add a comment or two on the sentiment charts to which you linked in your message. the sentiment readings apply to the NYSE and the DOW, not the NAZ. i expect NAZ only sentiment readings might be a tad more bearish. in any event, there remains a lot of complacency and that suggests we haven't seen the worst of it. indeed, the ongoing game of rotation will have to cease IMO for a real base to be put in. if the rotational games are to continue near-term i think the OSX may hit marginal new highs soon. i am playing the other side of expectations, hoping that we see some real selling and as a result a healthier market. if that delays boom 2000 for a while, all the better so i can get back in on the cheap. o:} ++

To: BigBull who wrote (65134)	4/23/2000 4:24:00 PM
From: RWS	Respond to of 95453

The buy signal I got on MDR last week seems to be holding up. The expected buy signal on MRO has been delayed. It may visit the bottom of its channel again. The chart is giving me a buy signal on UFAB. Looks to me like it has completed a double zigzag down from the 97 high to the low on the 12/10/99 weekly bar. From the Dec99 low to Mar00 high was a typical elliott five wave impulse move up for wave 1. A three wave pullback for wave 2 down to the April 17 low stopped at the intersection of an intermediate term trendline from the 4/99 high and a short term trendline from the 3/00 high and bounced up. Oscillators are turning up and money flow was very positive on Thursday. I'm expecting a 3rd wave up that should hit 10.25 at a minimum. (Wave 3 must at least equal wave 1.) My stop (mental) would be the wave 1 low at 5.13. Good luck to all. RWS