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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (17598)	4/29/1998 4:22:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Donald; What I see is almost border line as to if she will go on down..I'm still short via Bearx..AND SPY, as I can't say she has hit bottom yet. I just got my FAX ( a closed end bond fund ) but I had to up my bid..to 7-1/16th . The Super Caps have to show me 382 before I come off the down trend thingy, and they are within 2pts..but they won't make it today. ------------------------- Something else that may have helped the general market some today was some CE bond funds, that trade right along side and with equities and this could help the S&P index make a better showing but keep in mind that CE bond fund dough is not going into equities, and can produce a false reading as to how good equities are really doing. I'm not sure how many if any CE Funds such as FAX and PPT might be in the S&P if any..but for sure they are in the Composite as if they were stocks in companies , yet they are part of the bond market, and really should be looked at or groped seperate from the stock indexes. One more anomoly that winds up tossing us a curve from time to time. ------------------------ Fax is now paying over 10% at this time, and is selling at about a two year low, volume was high on her today..I tried for 7 but it wouldn't take till I bumped it up a 1/16th. She is also very liquid. Jim