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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (13668)	8/3/1998 4:03:00 PM
From: dennis michael patterson	Read Replies (1) \| Respond to of 42787

Larry Wachtel: "this is the final stages of the downtrend." Hmmmmm

To: Chris who wrote (13668)	8/3/1998 4:05:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

There still are group of key stocks that I have been following that are holding their ground, including IBM and even GE of the DJIA. Also the S&P 500 is still above important support. The NASDAQ looks like it is moving past its intraday support. So lets see if the market extends this move down from here after the initial wave of selling. But I would say the market is like a huge rock at a ledge that is wobbling and ready to topple downward. Quite a tug of war going out there. This is definitely a mixed market. When prices start to move up, there is a group willing to step up and buy, while others use that as an opportunity for profit taking and taking the other side of the transaction. I think we are seeing a pattern of increased profit taking activity and going counter to the trend in this market. Irregardless, looks like the market will close down today which is not good at all. Definitely allot of bear sentiment out there in the market. Bob Graham