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To: donald sew who wrote (42009)	5/1/1998 8:38:00 AM
From: joe smith	Read Replies (1) \| Respond to of 58727

donald, in reading many posts on various threads last night and this morning, one thing is clear. people are very confused about the direction of the market. personally, i have stopped trading after covering a few shorts on mon/tues. i was hoping for the BK to juice my shorts, but wasn't really expecting it since i believe we have to retest highs at least once. a failed attempt would give me a better feeling that the market will actually turn down for an extended period of time. i havent turned bullish an will not be adding to the long side. however i will not be in a hurry to add to my shorts either. i see monies flowing into the big caps for the most part during this phase. the small guys will probaby just meander around not gaining or losing much over the next week or two. i think as you do, that we will probably start another down leg after the monthly effect is over. will it match or beat the last one? who knows? for those wanting to go long i would stick to the large caps or trade the indexes for short term long trades. the kahuna will come. as for when i have given up trying to forecast that. i think confusion will add to the fire on the downside when it comes. if people are confused, they will sit there at their pc's(for the internet traders)like a deer in a cars headlights until its too late. markets go down much faster than they go up. that is no time to be frozen. so, for now, i will read and watch and wait. js