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To: Dom B. who wrote (42008)	5/1/1998 7:56:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE ----------------------- Have to make a slight correction to my previous update. I had previously indicated that the overall technicals were in the upper mid-range of the technicals approaching the overbought region, actually they are a little lower and it would better stated that the overall technicals are really are right in the middle. A fair up-day today would put it in the upper mid-range, so there is even more upside room. Technically the bias today is to the upside, but if the NAPM is bad it should be used as an opportunity to get in on the long side, and targeting 9200 on the DOW is reasonable. Per my cycle analysis, this short-term(5 days) up-cycle should last about another 3-5 days depending on the index, before we reach CLASS SELL status. Heres' a technical tidbit, if we do not reach CLASS SELL status per my technicals in that time frame, I will interpret such as another technical signal that we are at the top for the interim. The key to watch now is whether new highs are set in the individual indexes and how fast they are set. As I stated earlier, there will be some new highs, but do not believe at this time (mid-term of 30 days) that most of the indexes will set new highs, which will also indicate the top. Most only consider 2 trends, being an up-trend or down trend. I use a 3rd category which is a range-trading trend, and I believe that we are now in a range-trading trend with the range at 8750-9300 on the DOW, give or take 100 points since such is in the early stages. I do feel that in the near future, as soon as mid-MAY we may see a bigger drop, but that is not certain at this time. It may just take a few more cycles in the range. Unless the range is broken substantially say by the DOW hitting 9400-9500 I will stay with this analysis of range-trading. I see 9200 being a tough resistance to break, and if it is not broken prior to mid-MAY, it will be another signal of a interim top. Lets say that we do hit 9200 but no higher, and similar for most of the other indexes, then we would be forming a DOUBLE TOP over a one month time period. That would be a major technical indication that we are at the top and that the bigger pullback could start. Also keep in mind that we could also have a triple to quadruple top, so the bigger drop may not occur immediately after the double top. I feel a mistake that many are making is looking for the big drop, which I did also. My short term technicals indicated a CLASS BUY to GO long on TUE, but I did not. Seeya

To: Dom B. who wrote (42008)	5/1/1998 9:41:00 AM
From: ViperChick Secret Agent 006.9	Respond to of 58727

the analyst who has actually been right on CPQ upgraded it today Compaq (CPQ) 28 1/16: CNBC reports Salomon Smith Barney upgrades two notches from "neutral" to "buy" and sets a 12-month price target of $40, up from $27... -------------------------------- and here I thought the four f's were something else Fibonacci bunnies begat bulls and bears" biz.yahoo.com "David Allman, research director at Elliott Wave International, said Fibonacci-governed processes affect timing right down to the tiniest structures in the human brain. Citing wide-ranging publications, Allman argued that human mass hysteria is just a short evolutionary step from the most basic animal instinct -- fight or flight. Like all but the most primitive fauna, human emotions and motivations are ultimately controlled by a group of subcortical structures in the brain called the limbic system. ''If you want to remember what the limbic system functions are, it is the four fs: feeding, fleeing, fighting and sexual intercourse,'' explained Allman. Because the limbic system can override rational action, humans are not as superior as they think, ''they just own more stocks,'' he said."