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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (21802)	7/18/1998 10:33:00 AM
From: bobby beara	Read Replies (1) \| Respond to of 94695

>>Well if there is a sell-off, maybe it started at the close???<<< Bill a spx trendline from Spring 96 High, thru Aug.6th high, hits 4/3 where we did a little bounce off and pierced it going into 4/22. Friday we retouched the trendline Friday and made the trading range gap adding the high low of the april june trading range to the high. If we follow the same pattern, we should have a small correction here of 20-25 spx points and then try to take out 1200. bwdik, bb

To: William H Huebl who wrote (21802)	7/18/1998 10:45:00 AM
From: Barbara Barry	Read Replies (2) \| Respond to of 94695

Bill, I didn't watch the close so I'll go look at some charts later.IMHO this market is setting up for a big sell off and even I might look at some puts next week.BUT those darn "psych" indicators warn me not to get smug as there is still too much $$$ and too much fear of not being in the market.So I still think IT will take more time.One of the most interesting stats from CNBC yesterday was that 50 stocks in the S&P 500 represented 80% of the gains!And we know what has occured with the small and midcap arena.Even for a non-fundementalist like you,THAT is worth noting!<ggg> I guess I am officially a "consevative" bear cub at the moment and not a full grown bear yet!<VBG> Regards, Barbara