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To: dennis michael patterson who wrote (55407)	7/31/1998 5:53:00 AM
From: tsyl	Read Replies (1) \| Respond to of 176387

Your "justification" for a mkt decline may be overdone. It could be realistic to see the Dow go to 8600ish with continued bad news - mainly Chinese currency devaluation and continued japanese foot dragging on tax cuts. But the market has a lot of technical support at 8600. Without terrible news - higher inflation, recession, etc - we wont go beyond that resistance. The econony is great.Were slowing a bit which is normal. Weve been on fire for a while. Too many broadcasts on TV try to get folks cranked up on this issue.