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To: j g cordes who wrote (32457)	1/8/1998 10:29:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE ---------------------------------- Although the Nasdaq is stronger than the DOW, the DOW is showing too much weakness. I just got out of my OSX calls with a small loss. Some of the oil drillers were downgraded again. There is a fair chance that the OSX will break even since they were Feb calls, but due to this type of market I felt it was important for me to improve on my exit skills.

To: j g cordes who wrote (32457)	1/8/1998 10:50:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE ------------------------------------- We are at a very crucial point intraday. The DOW is close to a negative 100, but the NAZ is only down 6.40 showing much more strength than the DOW. If the strength in the NAZ cracks then this decline should increase. As of right now the NAZ is still holding up. The SOX is actually climbing and up 4 points showing extreme strength. Please keep in mind that the bias for the DOW is to the downside although for now the NAZ is limiting the downside in the DOW. From the current looks at the strength in the NAZ the DOW appears that it will close above the lows for today, unless the NAZ cracks. Seeya