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To: donald sew who wrote (41664)	4/28/1998 1:34:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (3) \| Respond to of 58727

Message 4239046 don this is some info on the airlines..... airlines down???????? oils up????????????

To: donald sew who wrote (41664)	4/28/1998 1:39:00 PM
From: j g cordes	Read Replies (1) \| Respond to of 58727

Makes sense to me Don.. two points just off the top of my head, each of these seem equally strong at the moment on my chart and depend on bonds. Since bonds are on hold until the next fed meeting the market is stuck between these two scenarios A. if we are continuing up then we've hit the bottom of the Jan-Apr channel and bounced, consolidate and run into the first part of May then go flat as bonds back down. B. if we have turned down then we've hit the bottom of the Jan-Apr channel, bounce to mid point and continue down to 8750- area with a sharper runup in bonds to 6.22 area Jim

To: donald sew who wrote (41664)	4/28/1998 1:49:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 58727

Don--placed a market order to close out my short position in the futures OK -- I am out at 1093+ -- for a profit of 9 points

To: donald sew who wrote (41664)	4/28/1998 2:04:00 PM
From: joe smith	Respond to of 58727

donald, my gut says we will take out yesterdays lows and have a couple hundred pooint drop on dow today. if that happens we will have foollow thru for baloance of the week. js

To: donald sew who wrote (41664)	4/28/1998 2:20:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 58727

Well I guess I closed out too soon!! But like I tell others -- never look back. >>This market is very confusing. I have not seen a CLASS BUY situation reverse so quickly<< Don, my experience has been that gap opens of any consequence rarely hold when it comes to the S&P futures. This is particularly so when we gap against the short-term trend. For example, today we had a large gap up open despite being in a short-term down-trend. The odds were very high that this would not hold -- and the first 15-30 minutes will tell the story. Now if the market had gapped down big today, there is a greater likelihood that it would have held given that the short-term trend is down. But even in such a case, there is no assurance that it would have done so. But again the first 30 minutes should tell the story, if the price movement continues in the direction of the gap open, then the odds are that the gap will hold at least for the day. This like all other patterns does not always hold -- but more often than not it does do so, based on my experience. I rarely day trade the futures because it takes too much attention and I am not sure that I am temperamentally suited to it. I used to do so at one time--though not very successfully--and may be one day I will try and do so again. Regards

To: donald sew who wrote (41664)	4/28/1998 2:22:00 PM
From: Robert Graham	Read Replies (2) \| Respond to of 58727

There is upward breadth of this market which indicates a current underlying strength that the averages are not reflecting. This coupled with a dropping and low TICK and an increasing and high TRIN would indicate to me that a rebound may be on its way. I do not know much on how to use TICK and TRIN as real-time market indicators, so can someone help with understand what their current values are indicating? Here are the readings every hour since 10:00 AM EST: TICK 387, 296, 237, 157, -549 TRIN .64, .85, .93, .98, 1.23 A/D at 2:00 PM EST: NYSE: 1889, 991 NASDAQ: 2529, 1533 Any comments? Bob Graham