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

To: Thomas C (Hijacked) who wrote (22928)	8/1/1998 9:07:00 AM
From: P.Prazeres	Read Replies (1) \| Respond to of 94695

Thomas, If we get a bounce , it will probably occur at the 200day MA. Right now around 8464.77. And if the bounce occurrs, the 50day MA will be resistance (right now: 8987.19). If the dow got to 8250, it would be in a free fall state, especially if it ever closed more than a few days below the 200day MA. Paulo

To: Thomas C (Hijacked) who wrote (22928)	8/1/1998 9:32:00 AM
From: James F. Hopkins	Read Replies (2) \| Respond to of 94695

Hi TC; I haven't exactly gone bearish yet , the outlook don't look promising, so I'm on the sidelines. But I feel she has a lot support to break before she would get down to 8250..how about 8550 ? Right now there is even a chance she could bounce, I'm just not betting on it. It's a wait and see what this week brings. I think down the road OIL prices will have a lot to do with ASIA recovery, if oil goes up that's going to be hard on them, and not to kind to us. Then we have to deal with interest rates , and what GreenSpam will do in August. Some people fear a rate hike, others are saying he wont. He has pressure from both sides but more than just here at home, I think there is some outside pressure on him to hike rates. It's just a hunch and I don't want to bet on it, but the chance is there and if he does I don't think the market will like it. The big surprise to me would be if he dropped rates, I'm subject to stay close to neutral until Mid August, unless I see a trend from where we are now. Jim