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To: MtnMan who wrote (27415)	10/30/1997 7:56:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

Neal, You got it. Right now CNBC is saying the foreign markets are still being hurt again. So I may be wrong with my contrarian position. Please keep in mind that I am contending that the technicals are close to being back to normality. Basicly accross the board the technicals are in the mid-range, which if you have read my earlier posts the market can go either way when the technicals are in this range. What I contend with my contrarian point of view is that with technical normality any dip will be just a normal technical movement of 50-75 points at the close. The HK market was down 3.74% as compared to the previous rise of the day before of 19%, such is reasonable on a technical basis. However as I listen to CNBC there is strong feeling of doom and gloom. Subjectively, I would have felt that a 3.74% decline in the HK market is a non-event, but the media is making alot more out of it. I will say that the first test to my contrarian view is that the DOW does not close lower than the 50-75 point range and rebounds over the next few days. If we see a large drop (at the close not intraday) with no rebound to the upside over the following days - then I have to admit that I was wrong.