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To: jjs_ynot who wrote (43679)	5/20/1998 6:19:00 PM
From: donald sew	Respond to of 58727

Dave, Using the 5:1 ratio, the divergence between the DOW and the NAZ was about 180 points. However, during the main runup in MAR there were a few occurances when that amount of divergence was reached. Im not saying that we will continue to run as we did in MAR but the upside momentum should not be underestimated, which I did this afternoon play an intraday PUT on the OEX. Still holding to 9300-9750 for the range, with 200-300 point girations within that range. As long as the interest rates are below 6% and the flight to safety attitude is still there, we should just range trade a bit longer. No huge pullback yet. Seeya