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

To: HairBall who wrote (22588)	7/28/1998 4:22:00 PM
From: Oeconomicus	Respond to of 94695

LG, S&P futures ended at just 4.86 over cash vs. fair value of a little over 7. A few more minutes in the day might have brought more sell programs, but we'll just have to wait'n see. Jim, if 1120 is now your critical level for the close, what level intraday would convince you not to wait for the close (not to mention waiting over night for the open)? Bob

To: HairBall who wrote (22588)	7/28/1998 7:01:00 PM
From: donald sew	Read Replies (1) \| Respond to of 94695

LGregg, >>>>>>> Market action at the close, was rolling over. I expect follow through to the down side Wed at the open. Now lets see what happens overnight!<<<<<<<< I still feel that for the next few days there is still a bit more upside or at least flatness (PLUS or MINUS 30 DOW pts). My short-term technicals still indicate severe OVERSOLD on the short-term basis(1-5days). I feel the highest the market can go is to the 9150-9200 range, but after today that seems to be difficult. Thereafter we set LOWER LOWS. I did not like the way one sell program (according to CNBC) was able to bring down the DOW 100 points, even in light of the Wolinski matter. Seeya Seeya