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To: Patrick Slevin who wrote (46858)	6/25/1998 10:43:00 AM
From: coug	Respond to of 58727

Patrick, Thanks for the link.. As you know, Area 54? is out in eastern Nevada near Caliente.. I've been sort of close doing geology in the 1970's. Off Topic... the market might be starting to turn down.. gggg the Coug p.s. maybe still too much mo for trading move down

To: Patrick Slevin who wrote (46858)	6/25/1998 11:49:00 AM
From: donald sew	Read Replies (2) \| Respond to of 58727

INDEX UPDATE - INTRADAY -------------------------- Just checked the market internals and divergences, and this rally is not as strong as it appears to be on the surface. I am not saying that this rally is weak and that it cannot continue up later; however if the markets internals do not improve feel that that this short-term rally could top out soon. So the far the ADVANCE/DECLINE is positive but not enough to justify being up 80 points. The NEW HIGHS/NEW LOWS although better, is still not showing great strength. The RUSSEL 2000 and the the LOWER TIER NAZ are improving but at a slower pace than the large caps, so this rally is not completely broad-based. Unless there is improvements in the internals opine that we are getting close to the interim top. Also without improvement in the internals the forthcoming short-term pullback, although should not be huge, may not be as weak as those during the JAN-MAR runup. Any pullback should be considered a buying opportunity for the short-term. That could also change, but the next dip should do fine to go long. I am not saying that this rally is weak, but am saying that unless the internals improve this short-term rally should end soon. And for the mid/longer term if the the internsls do not continue to improve then the top will be limited. Subjectively, for the neart-term of 1-2 weeks, do not feel that the internals will improve dramatically, in light of ASIA and EARNINGS WARNINGS/ANNOUNCEMENT. Interest rates, being as low as they are now, are not that great of an issue as when they were closer to 6%, but they should be watched and not discounted. As indicated earlier, feel that the 9075 resistance area for the DOW may hold and be the interim top if it gets that high, although it is close. Seeya Seeya