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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (7797)	11/13/1997 3:02:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 18056

Joan, I must disagree on INTC (and agree on MSFT). I think INTC is broken since it went through 90 like through butter. What we see in the last week is just distribution before the nextfall (how about tomorrow?). By the way, a gret opportunity this afternoon to lay out some nice puts, I doubt this opportunity will last to the close, last time I looked the Dwo was pushing 65 on the plus side, I I do not think it will go much higher. I still think the close tomorrow will be just under 7400 (I am stubborn even in the face of a pseudo strong rally). Zeev

To: Joan Osland Graffius who wrote (7797)	11/13/1997 3:09:00 PM
From: Joss	Read Replies (1) \| Respond to of 18056

Hi Joan, I agree with you on IBM from a fundamental standpoint. My bet is that within a couple of days, we will have hit the 150 day MA. RSI has already started moving down. IBM will soon move into the "technicaly broken" or phase 3 category. I always look both ways, but it is hard for me to see how the market turns upward in any lasting way at this point because so many stocks are now at the point that they will "fall under their own weight". Steve