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To: Proud_Infidel who wrote (15041)	7/23/1998 11:25:00 PM
From: Patrick Slevin	Respond to of 17305

Well there is a lot of fear in the market which implies to me a slight rebound. I cannot trade that, however. I'm too spooked myself. In any event. I will be selling a failure to rebound high enough. High enough is a failure to convincingly bust through 1160 the spoo, then 1162. Trading tonight at almost 1150 I target the spoo at 1140 before the moment of truth arrives. Frankly the lower this goes the tougher it is for the bullish case. The environment created last week was ridiculous. Personally, I rode most of the 100 point ascent in the S&P futures over the past month and got worried when the media touted that we will go higher. Dag, man. It was a parabolic ascent over the past few weeks. So now, after a rapid decline, the same bulls are worried in the media. Sheesh. With an indicator like that maybe we'll crack new highs....I mean, it can't be this easy, can it?