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To: Broken_Clock who wrote (34784)	2/7/1998 6:10:00 AM
From: Patrick Slevin	Respond to of 58727

That iqc chart site, is neat. I wish it had a McClellan Oscillator on it. I don't know too much about Candlestick techniques. Evidently donald sew uses them and I know Ray Cunningham is good with them. From a pattern recognition point of view I would not be completely convinced this move is over just yet. It did not close at new highs so the move will probably not be extended before it comes down a little bit then continues higher trying to push thru what looks to me like a double top sort of set-up. My guess is once it gets around that range...somewhere near or just past all-time highs, it comes back down and declines all the way thru that gap. Going straight up is a very bearish scenario I would think, as it really pushes the overbought condition to extremes, setting the market up for a break. So far this move has been pretty much straight up with little consolidation. The worrisome issues also include external issues....currency problems in Asia, Persian Gulf, and so on. Although it does look pretty toppy (to me at least) I'm still jumping in and out on the long side because an upside spike is likely to happen within a couple of weeks. So rather than ramble on here, I would think the market would be healthier if it did come back and consolidate. Breaking higher would leave no room for error. Also I would be on pins and needles every day trying to figure out where/when to short the sonuvagun.