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

To: bobby beara who wrote (22021)	7/21/1998 7:29:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

BB; Well we agree that we are at support level, now you think we will hold, but I don't have much of an opinion if we will or not. I slightly favor more down side, but will be watching close. ----------------- All the drugs had good reports but sold off anyway, so taht don't look good. Be careful of the pundits that hype things up just so they can take profits. Look at the crap they pulled with msft, and how they have sold into the rally. I spell AnalCyst that way on purpose, out of all of them only 6 have any thing like a respectable track record. Jim

To: bobby beara who wrote (22021)	7/21/1998 7:49:00 PM
From: James F. Hopkins	Respond to of 94695

BB , I started to add but the window closed on me. I bet there are not that many shorts left after the recent run up, and put buying has not been heavy either. The VIX has been really low on this last run up. As usual I guess the shorts will come to supper late. They have a habit of going short about the time the market bottoms, and have about as much to do with these blow off tops as the longs do. Charts show that on an average 2/3rds of the shorts cover just before the market tops. To bad we can't get up to the minute data on short interest. Main thing I'll be looking at tomorrow is if the FED adds liquid, and does another repo, that is one thing that helped keep her propped up the last part of last week after I saw the sell signals biz.yahoo.com Jim