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To: donald sew who wrote (35383)	2/23/1998 10:47:00 AM
From: Nemer	Read Replies (3) \| Respond to of 58727

Don: The bell just rang and the whistle just blew on an alert from my big box..... That's all that happened, no kidding, the bell and the whistle.....no other info.... I have no idea what to expect as I can't get ahold of my programmer buddy and I've left him to his own devices for the last few days. As you recall, I've said he had a Weird sense of humor, Therefore, this bell and whistle alert means something.........who the heck knows what ? ? Just thought I'd let you know so maybe you can discern any thing---up -down- destruct- reward- what? OK---just got him on the phone and he said he had added a new alert in my absence. Time on his hands is definitely time spent in the devil's workshop.......ggg This new alert (which now I'm hesitant to post) is simply an consolidation and wavering movement around the close of the previous day and in his and the big boxes opinion tends to identify a potential move of two points or more in the upcoming minutes of the SPX.... ....as I said , this guy is spooky... Regards---Nemer

To: donald sew who wrote (35383)	2/23/1998 11:31:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

<It is not that unlikely that this type of weakness could continue for 1-2 more day, and I am not talking about any huge decline, then towards the end of the week (Thur/Fri), back up and it could be quite strong to the upside.> I don't know, perhaps you are right. I'm (primarily) sticking to the short side. This is, of course, easier for me using futures than it would be an options player. With small exceptions likely here and there I think the market will not be as powerful as you do. For a third viewpoint, the oscillator of McMillan's (you know, the one I never looked up the formulae for?) shows that if we get more Declines than Advances today (unlikely, in my view) the reco is to buy OEX puts. McMillan's bread-and-butter calls over the past few years has been OEX losing on just one trade out of perhaps a dozen.