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To: donald sew who wrote (27464)	10/30/1997 3:05:00 PM
From: Taqi Hasan	Respond to of 58727

Don, Hi there!! Just getting back on SI today after a short break. What do you mean by technical normality? The MMs can't pull down this market, its the institutions and the individual investors. The big fall on Monday didn't scare any investors, they were waiting with their checkbooks outside their brokerages Tuesday morning. The institutions were selling big blocks on Tuesday while the small nvestors were buying. There is still a lot of complacency out there, the EPC ratio is still low; the EPC and OEX put-to-call ratio has to go higher than 1.5 to suggest a meaningful bottom. The market in its fall since last Thurs broke thru several support levels, it can't just bounce back and go North. IMHO the Tue rally was just a dead cat bounce; we might trend lower from here until we hit 7100 again. Until then I am just playing the OEX and TBR intraday, both have very wide swings. Regards, Taqi