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To: Wildstar who wrote (14945)	1/22/1998 2:59:00 AM
From: Jeffrey Thompson Hunter	Read Replies (1) \| Respond to of 70976

Wildstar:Naz severely overbought?I'm looking at personal32.fidelity.com

To: Wildstar who wrote (14945)	1/22/1998 11:09:00 AM
From: Gottfried	Read Replies (1) \| Respond to of 70976

Wildstar, >especially the NAZ and hi-techs are severely overbought (at least technically, not price-wise) for the immediate short term.< Please explain further - I'm a TA novice. I thought overbought referred strictly to price. TIA! GM

To: Wildstar who wrote (14945)	1/23/1998 3:31:00 AM
From: Wildstar	Respond to of 70976

TA still looks very bearish for the immediate short term. The NAZ has outperformed the DOW for the last 2 sessions. The magnitude of the overall downturn will depend on which one will win the tug-of-war. The NAZ finished today much closer to its low than its high, which is a bearish sign at least for tommorrow. SOX is still very overbought (momentum-wise). Yesterday (Wed) had the perfect setup for a large down day : Asia down big the previous night Futures down big in overnight trading MSFT making statements about uncertainty in terms of the Asian situation. But a large downturn did not materialize. At least not as large as I would have thought. This is a sign that the market may have more support than I would have thought. However, I will still remain bearish until I get signals to the contrary. Still holding Feb 30 AMAT puts.