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To: pz who wrote (10593)	1/8/1998 12:49:00 PM
From: Patrick Slevin	Respond to of 17305

It's too choppy for me...I went short an SnP contract about 45 minutes into the day and was stopped out an hour later for a 2.5 point loss. I'm sure it will close negative. Yesterday's late rally may have been from funds that have been getting strong cash flow recently. It seems as if that was what was happening in the first 2 days of the year. I have no idea how to trade it so I'm out until Friday which statistically is a good day to short. On the other hand, Monday is statistically a good day to be long. These statistics are based on lunar phases, believe it or not, and were just verified for some of us by a trader in Texas. As far as the Oils, I just read this item from an oft-quoted Market Maven, take it or leave it. He makes some excellent calls. ~~~~~~~~~~~ This is not a business as usual market, therefore the stocks that turned up where among the most smashed of the prior couple sessions, to wit, the Banks and Oils. Their recovery is very essential for the market to have any chance of getting in gear. Without them on the move, the rally would peter-out quickly, regardless of what the tech stocks are doing. With them in gear, the tech stocks can come along later, and that would work.