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To: j g cordes who wrote (41890)	4/29/1998 10:27:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 58727

Tom, I just looked back over a daily of the dow average.. do you realize we've gone from 7500 to 9200 in four months with little more than a sneeze! A 1/3rd retracement would be about 560 dow points, a 1/4 retrace of this move would be 425 points, a 1/5 retrace would be 340 points.. more reasonable, which equals dow average 8860 area. Yes many people were saying we needed a correction and gave estimates for one Fred faxed 16 pages selling off assets because of his indicators saying a correction was coming and he trusted his indicators enough to lock in his gains... but what happened Monday morning is a little different than "order" for me otherwise it wouldnt have gone from down 2 to down over 16 in just a couple of hours before the open on a news article that wasnt even "new" news... and now there are many indicators saying the sell off isnt over.....you say you see order in the chaos.... I have heard the order out of chaos phrase...just like.. its only profit taking.....sector rotation...etc etc etc ... well I dont know if the sell off is over or not... what I do know is that the news is what will drive the market right now... be it ECI...or whatever the flavor of the day is....and that is the only "order" I see. the market is looking at news for direction....