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To: Papillon who wrote (14104)	5/27/1998 11:17:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 17305

I was fortunate to short it at the correct time...so far, anyway. I hit it at 10 o'clock ET almost on the button just moments shy of the high. The buying is too early and lackluster. The selling power should prove to be greater. But they just have an outside shot of holding it up until around 2:10 ET. Critical support would be around 1080 on the S&P futures, which I guess would be about 1076/7 on the SPX. A break there would accelerate quickly....I think. Upside has far more resistance. I'm of a mind that the rally has lost it's steam and further intraday attempts would see heavy selling. Possible intraday downside over 200 DJIA to as much as 250 at the close. A serious break (I think) could put us down 10% in a few days. Of course I'm a bit prejudiced, as I have sold short from higher levels.