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To: donald sew who wrote (31157)	12/13/1997 8:07:00 PM
From: donald sew	Respond to of 58727

INDEX UPDATE -------------------- Untill I went thru various threads did not realize how bearish many have become. From a subjective viewpoint, when there's the feeling of doom and gloom is when to buy. I am not suggesting that everything is fine, but the technicals are not indicating the strong bearish tone that I am noticing. Well, not that I am a contrarian, since I just follow my technicals but I will stick to what they are saying and that for the SHORT-TERM (1-5 DAYS), we should have a reversal sometime this coming week and it could start as early as Monday. Caution and nimbleness are required for the near future. I am currently in the XOI's and OSX, and I am contemplating buying the IIX, since per my technicals the IIX is the strongest of the HiTech indexes and my CLASS 1 BUYS. Yes, I do realise that CSCO is getting killed now, but that is only one component of the index although strong one. Any new long positions will be only for the quick pop and thats all. I will not be looking for the extended runs at this time, but keep it to my normal 5% pop on my CLASS 1 BUYS(stronger indexes). Happy trading.