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To: donald sew who wrote (27284)	10/28/1997 5:58:00 PM
From: Tom Trader	Read Replies (2) \| Respond to of 58727

Hi Don and everyone--I just got back and logged on My apologies to those who posted to me and did not get responses. I decided to get out and do something else with myself--given that I had no intention of trading this market until things settle down. As far as today's action was concerned, my system generated a buy signal, as I posted to Kevin earlier this morning--which the way that the system works, I cannot take. So I am still flat the futures. It is very rare for a market to just turn on a dime and head up so I believe that this market should head lower again--whether it will decline all the way to below 7000 again, is anyone's guess. I shall take the next sell signal that I receive and go short the futures and thereafter if I get a buy signal, I'll go long. As far as individual stocks are concerned, I now have something of a benchmark in terms of today's lows to help me establish entry levels on those stocks that I would like to own--that is not to say that I am looking to buy at today's lows but I'd certainly attempt to take positions at support levels that are above today's lows. I will also buy index puts to cover me in case I am wrong and the market tanks. I will not dismiss today's performance as purely technical -- but if you look at the chart of the 1987 decline you will see that the day after the crash the market made an intra-day low and then closed strongly to the upside; thereafter, the following day--which would be tomorrow-- there was a strong up move and then the market trended down for several days but never went back to retest the lows but did decline substantially from the intra-day high made two days after the crash. Now this scenario obviously does not have to recur but I would venture to say that we will see significant retracement from whatever intraday highs that we achieve from today's low. I hope that I am right because I would like an opportunity to take additional long positions at entry levels that are close to today's lows. Regards