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To: donald sew who wrote (31743)	12/22/1997 8:08:00 AM
From: donald sew	Read Replies (2) \| Respond to of 58727

INDEX UPDATE -------------------------------------- Per my earlier note, my technicals were calling for a CLASS 1 BUY for N225(JAPAN MARKET) to be bought this morning at its low. Last night the N225 was moving up off the bottom and if it closed over 15000-15100 it would have been a HAMMER. The N225 closed at 14799 which was 230 points above the low. Will doubt that the media will report that. I still maintain my CLASS 1 BUY for the N225 and it should be bouncing up very soon. For those who watch candlestic patterns, last nights performance was a "SHOOTING" position, meaning that it gapped down. It slightly hints, only slightly, confirmation of a reversal. Korea was down approx 1% this morning, but keep in mind that it was up around .8% on Saturday; therefore over the weekend it was basicly flat. Again the media will not advise such. The Korean market is also not at its bottom. In light of the Korean market dropping so hard on Friday, having it remain flat over the weekend is a good sign. I am not trying to discount the fact that the N225 have set a new low, but wanted to give a more complete view, since technically it is not as bad as the media will make it appear.On the other hand it is not a great sign either but is showing some promise. Well lets see if my CLASS 1 BUY works on the N225 in the next few days, if not tonight. Seeya