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To: donald sew who wrote (47382)	7/7/1998 11:30:00 PM
From: Patrick Slevin	Respond to of 58727

I have support about 8 spoo points down. Further, ----well first of all 8 spoo points is perhaps 70 DJIA points---- a failure to bounce from there means support about 140 DJIA points lower. Then buy the puts, to my way of thinking. Anyway, further and stuff, I think the market has to press further for the time being. A psychological thing. The funds have to give the appearance of maintaining control. It seemed that way today with all the bearish divergences. Certain indices were up while others were getting hammered. My best guess is that it will take a bit of time to bring the market down to levels that seem appropriate. From a rational point of view anyway. Just a thought......personally I don't give a flying damn if the DJIA opened at 2000 tomorrow.