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To: j g cordes who wrote (32034)	12/28/1997 10:46:00 PM
From: Patrick Slevin	Respond to of 58727

I may be incorrect, but I think I read recently that there has been negative money flow into funds over the past 2 weeks.

To: j g cordes who wrote (32034)	12/29/1997 5:45:00 AM
From: donald sew	Read Replies (2) \| Respond to of 58727

INDEX UPDATE -------------------- Here's how the Asian Markets performed last night: HONG KONG - UP 161(1.55%) KOREA - UP 1.2(.3%) JAPAN - DOWN 27.4(-.18%) +++++++ OPENED AT 14830 +++++++ CLOSED AT 14775 +++++++ LOW AT 14488 +++++++ HIGH AT 14853 As previously indicated, it appeared that N225 was to perform a TECHNICAL DELAYED DIP(DOUBLE BOTTOM). On the intraday basis it did drop below the previous bottom of 14569, but closed 287 points(2%) higher than the intraday bottom. The CANDLESTICK pattern will be close to a BLACK HAMMER, but will have just a slight upside shadow. A true HAMMER would not have an upside shadow. A HAMMER under such conditions is a strong reversal signal. Just hope the media will indicate that the Japan market was substantially off its lows and not just say that it was down slightly. If I am correct with my TECHNICAL DELAYED DIP on the N225 then it should continue up and surpass the previous peak in a few days(1-5). Do not believe that last night's performance of the Asian markets should have any substantial negative impact on our market today, and it should be taken as a slight postitive, but one never knows. Happy trading. Donald

To: j g cordes who wrote (32034)	12/29/1997 6:12:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

Jim, Hope you feel better soon. My technicals still indicate that for the short term we will be heading up, and should start this week if not today. Subjectively, feel that it should move up with some with a little more strength by at least Friday, since the year end tax selling will be over. Since the the performance of the Asian markets was fair last night, do not feel any strong negative impact from there. Also on a subjective basis, feel that the earnings forthcoming in Jan will set the direction of the market later. So for the next 1-2 weeks the market should move up a little, then flatten out awaiting the outcome of the earnings. If the earnings are really bad, in relation to the recent market pullback(especially HiTechers), then would feel that we will be heading lower. As mentioned previously, for the move up the key is whether the major indexes will surpass the previous peaks to the upside: DOW = 7819 SPX = 954 NAZ = 1553 My current trading range is for the DOW @ 7550-8100, and the SPX @ 920-990, but if all three targets(previous peaks) are not surpassed with relative ease, I will be immediately decreasing my trading ranges with the DOW's lower range around 7300. By the way, I am also watching MSFT carefully as a leading indicator for this specific interim (I am not saying it is a leading indicator all the time, just for this specific interim, based on some guitar calculations). I had called for a CLASS 1 BUY earlier and MSFT moved up 1 13/16. If it does not continue up or at least remain flat, that will not be a good signal for the HiTechers to move up nicely. Seeya