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

To: TREND1 who wrote (12551)	12/30/1997 12:15:00 PM
From: jeff wheatley	Respond to of 18056

Larry, If that occurs I would compare the supporting volume with that of the previous rallies. If it is relatively weak, I wouldn't put much confidence in it. I've read that the occurence of more than three highs in a broadening top is unusual, but not out of the question.

To: TREND1 who wrote (12551)	12/30/1997 1:24:00 PM
From: yard_man	Respond to of 18056

Toward the end of January. Hasn't started yet. Just because everbody knows about the January effect doesn't mean it can't continue to happen. I think the bearish comments given in December were meant to produce it. Acampora and others are getting their giggles.

To: TREND1 who wrote (12551)	12/30/1997 1:32:00 PM
From: HB	Respond to of 18056

Larry, I guess all I can say is that you have to make a high to make a top -g-! Covered my recent SPY short for a measly 2% gain before Xmas, but am looking to do it again. Did you find a good vehicle for shorting the Dow? I'm rather interested in that as well because it looks more overvalued than the S&P to me. May do Mohan's KO suggestion, but that may be a bit risky for my blood. Was thinking of shorting SPY again @ 97 3/4 or so, but maybe moving this up on the theory that the S&P might test 1000 just for the hell of it. (Heck, it could break out over 1000 just for the hell of it -g-.) The channels in your graph would seem to suggest moving the limit up also. Thoughts anyone? esp. about shorting the DOW. HB