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To: donald sew who wrote (41733)	4/28/1998 8:34:00 PM
From: jjs_ynot	Read Replies (2) \| Respond to of 58727

Don, There is a possibility that there is a significant move down yet to come in the next several days before a reversal. See 204.162.156.43 204.162.156.43

To: donald sew who wrote (41733)	4/28/1998 9:26:00 PM
From: The Perfect Hedge	Read Replies (2) \| Respond to of 58727

Donald- That does it.ALL the ta masters,including yourself,are saying something big and bad is coming.P&F just posted a reversal has been triggered,Plonk says 7991 could be hit on the DOW and alomost every ta'er I follow says LOOK OUT. BIG QUESTION:How in the hell can we profit the most from this behemoth pullback that we see coming? I'm looking at S&P puts but man they're expensive. OEX puts seem reasonable. Dow puts move like a snail;no interest.I'm 30 and hot blooded,remember<g> Any thoughts? Let's rake it in on this downdraft.GD exchange2000.com

To: donald sew who wrote (41733)	4/29/1998 12:10:00 AM
From: Robert Graham	Read Replies (2) \| Respond to of 58727

I think the biggest factor that can explain why your technicals behaved differently this bull market is liquidity. This changes the fundamental nature of the market which will show up differently with the technicals. So lets focus on liquidity. On the rebound yesterday and today, did you find the funds stepping up to continue to purchase the stocks that they were accumulating before this market adjustment? Originally I had a chance to see CPQ, GTW, HWP, and to some extent, IBM being accumulated by the funds. I think T and MO may have been but I did not look at these teo stocks before the market correction. If not, then liquidity is not a factor and it may have been the public money that has rushed back into the market this morning which is IMO meaningless in this situation when it is not backed up by by the "big" money players like the funds. This means that the market will be much more sensative to oversold conditions for instance. Also we can look to see if on this market retrace today if important supports were respected like support lines and MAs, and if another interim bottom formed. If this is the case, the market is forming higher lows which is a good sign. Then I would look at the new highs and new lows which I see you have been doing. Look for a divergence between this and the DJIA. If there continues to be a divergence downward of the new Highs/Lows indicator with respect to the DJIA, then we may not have seen the end of this market adjustment yet. I am sure you know this, but I wanted to mention it in my post here anyway. Perhaps it would pay to look also more closely at the S&P 500 since I think this is the key index due to the market being in the hands of the "market liquidity generators" which are the funds. How is the S&P 500, technically speaking? I will help by looking at the tape of some of these stocks to see if the funds were stepping up in any significant way to accumulate stock earlier today and report back the results. OK? I am having problems connect to that server of Internet Trader's. I may have to fork over $150 a month for a tick with tick history and real-time charts. Ouch! However, here is some info to start: I saw during the runup this morning that HWP was experiencing large block selling. So there were funds there were using the bounce from the market selloff to sell this stock. Interesting, considering there were many accumulating this stock just before the market correction. Nervous money of sellers that had plans to sell but was not expecting the market to recover in the near future? Bob Graham PS: I think I am going to shoot whoever is managing this server that IT connects to. Who knows? With the atttention given to the Internet and online brokers and market information, I may end up in the newspapers like the IBD or WSJ in an article that highlights the unreliable services being provided on the Internet.