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To: ViperChick Secret Agent 006.9 who wrote (33681)	1/20/1998 3:10:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

First of all, if you dropped you would not still be discussing it. You have never shown me that they conflict but that does not matter. What matters is you and I disagree because your conceptualization of the issue differs from what I conceptualize. To wit. If a market opens down 100 and closes down 50 and was never down more than 100 nor up more than -50 then it still opened on the low and closed on the high.

To: ViperChick Secret Agent 006.9 who wrote (33681)	1/20/1998 3:41:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

Lisa, Since I am also in PUTS (getting in 2 days early per my system since the XAL was not a CLASS 1 SELL but will be tonight to get tomorrow), I am noticing some signals which may not help us. Firstly, I mentioned that the NAZ was clearly overbought, and the whole NAZ will be a CLASS 1 SELL basicly tonight to obtain tomorrow. If the NAZ shows no signs of weakening, we may be looking at a technical breakout to the upside in the NAZ. Another issue is that I indicated that for the NAZ to continue up it required the SOX to also join in with a big up day today of 10-15 points, well guess where the SOX is now. I had also mentioned the previous peaks for the DOW, NAZ, SPX and I think we are getting close to those on the NAZ and SPX. The last one I noticed is that earlier this morning the NAZ out paced the DOW substantially but not the DOW has caught up alot, and just lagging the NAZ by a little now. The market will still sell off soon but the downside should be limited. Im not saying that we are now in an uptrend for the longer-term, since I believe we will still range trade. On the subjective side, the street appears to be interpreting the earnings well. As I always said before that fundamental/news will over-ride the technicals. OK, with today's performance the overall market will be overbought and the NAZ already overbought. There will many CLASS 1 SELLs to obtain tomorrow at the high of the day, keeping in mind that tomorrow can still go up and up as much as today. So, if I am correct we should start seeing a pullback by Thur/Fri, and it is possible it could start as early as tomorrow(afternoon likely). With the recent earnings the sentiment has changed to the positive, at least for the time being, therefore the downside could be limited. Seeya