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To: Bolder who wrote (13691)8/3/1998 8:00:00 PM
From: FJV  Respond to of 42787
 
Bolder,

Sometimes Favors indicates an intraday support figure and sometimes a close. Most times he is clear about which he is referring, but I saw his CNBC spot on Friday and I don't recall that he made the distinction this time. Typically when he is discussing intraday support he is careful to stress that fact - not this time. If anyone else can shed further light on this it would be appreciated.

Franco



To: Bolder who wrote (13691)8/3/1998 8:30:00 PM
From: dennis michael patterson  Respond to of 42787
 
Yes!! But I am at my office right now. I am stopping at Tower Records on the way home, and hope to post by bedtime, which for me is 11:30pm. I recall it's pretty simple though: if we go lower then we're going lower still but he still sees a rally. But he's been saying that since 9150.



To: Bolder who wrote (13691)8/3/1998 10:31:00 PM
From: dennis michael patterson  Read Replies (3) | Respond to of 42787
 
I get a nightly update from Favors. Tonight he says "rally attemots from here will be short.: "Any rally above 8884 will signal a probable rally to higher prices, as long as the Dow does not fall below 8785. A decline below that level cancels any possible ST bullish signal." He says he is going short the next rally. Bottom line: "We remain bearish." Amen to that!