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To: ViperChick Secret Agent 006.9 who wrote (46110)	6/17/1998 11:47:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

What would a schizo manic depressive know? I never heard it put that way, with regard to <the 55 day indicator only works when the market is falling>. Like I say, I'm not a Cycle Nut so although I'm aware of the concept I don't know specific ramifications. It does appear he attributes the concept to mass psychology. Given his rationale, I would guess the market is not depressing enough to cause the 55 Day selloff. This has now bounced impressively to major R in the 1125 (Sept) area and I would think the average investor is not aware of that to the degree that a panic sell would start. More likely, they are presuming the time honored Expiration Rally. I have not looked at OEX/SPX % motion, there should be a clue as to the wind-up Friday. I have to be at a golf outing in 15 minutes, good luck with whatever you decide to do.