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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Barbara Barry who wrote (48156)	7/21/1998 11:06:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

Transports aren't the indicator they were originally designed to be. The Bull case would go bananas if they hit a new high but it's no longer a confirming indicator, with respect to Dow Theory, than it was when Transports were truly Transports and did not include Airline carriers. Weakness in the banks, bond, utilities and strength in the oils prevented me from playing a relief rally just yet. But I would not rule it out later in the day if the banks can firm. Also; bonds "should" move towards 123, I think, before any break there. (now at 122.22). Other than that, have a nice day.