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To: ViperChick Secret Agent 006.9 who wrote (47679)	7/13/1998 7:32:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE ---------------------------- As I indicated yesterday - I will not underestimate the HELIUM in this market, and I do not consider it strength. Last night the futures were down accross the board substantially and so was the YEN. The YEN is still down but now the futures are up 1.50. Sure I realise that the futures are not up that much and that it could turn on the dime, but it is still an example of HELIUM. The weak market internals during this rally will catch up and limit this rally, but there will be a greater negative effect, and that is that when this rally does turn the downdraft will intensify. I am calling for 8500 by late summer early fall and 7600-7800 before the end of the year. Just heard on CNBC that the FIRST CALL concensus was for about a 1% growth, compared to 11% last year(same quarter). I still see that the market is topping off, but who knows with all this HELIUM so this week I will be playing a strangle/straddle. I think I should change the description of this market from HELIUM to HYDROGEN, since it is lighter than HELIUM, but has the ability to explode/ignite. ggggggggggggggggggggggggg Seeya