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To: Patrick Slevin who wrote (42560)	5/7/1998 3:30:00 PM
From: Chris	Read Replies (1) \| Respond to of 58727

new lows hit right now?

To: Patrick Slevin who wrote (42560)	5/7/1998 3:32:00 PM
From: Stoctrash	Read Replies (1) \| Respond to of 58727

Nice trading Patrick!! 11 for 11,...You DA Man!! Do I hear 12 into the close? Time for a new set of sticks?? <GGG>

To: Patrick Slevin who wrote (42560)	5/7/1998 4:43:00 PM
From: donald sew	Read Replies (3) \| Respond to of 58727

Patrick, >>> If you draw a trendline from January's lows in the DJIA or the SP8M through the dips in the chart... ...the lows today touched precisely on the trendline. So there could be a delicate point to break....certainly a break to the mid-high Dow area around 8965 would make the environment a high risk one, wouldn't you think? <<<< I would agree that if 8965 is broken it would be a bad sign, but that would be for the next cycle. Lets say tomorrow is down another 50-100 points, I calculated quickly that it would be a CLASS 1 BUY to the upside(need to wait for charts to be updated tonite to be sure). Therefore, after a 50-100 point decline tomorrow the market could rebound Monday, earliest Friday. BUT THE REBOUND SHOULD NOT BE STRONG. I closed out of my OEX PUT spread for a 97% gain. Sold the 530's for 7 and sold the 540's for 12.5 giving me 5.5 minus the 7/8 adjusted cost, so my net gain was 4.63. Original investment was $4.75. But if one calculates the gain based on the 7/8 adjusted cost(after effecting the spread), my gain was 532%. Seeya