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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Darren who wrote (3445)	7/28/1998 1:09:00 PM
From: wmwmw	Read Replies (1) \| Respond to of 4969

I was not trying to predict the top. I was trying to find something by which we could judge what stage we are now, have we passed top, or are we still towards top? At the top we may not be able to see the signal, but around top we may find somethings to form our earliest judgement.

To: Darren who wrote (3445)	7/28/1998 3:51:00 PM
From: steve goldman	Read Replies (2) \| Respond to of 4969

Darren is right on the money. The market, while still near a high, is far from a good market to most stocks. About 50% of all stocks are more than 30% off their year highs. Very narrow breadth to the advance, so the dow moved upto 9000, most stocks didnot participate, and as it moves down, you cant assume that the bull market is over. Yet when the Dow tanks, they take the good with the bad...There is a phrase...they throw the baby out with the bath water. Market tumbles..so while most stocks havent participated to upside they will tumble also...if you like large caps, you need to be more concerned...value, small cap players are getting some opportunities. Regards, Steve@yamner.com