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

To: Pierre J. LeBel who wrote (23295)	8/5/1998 10:40:00 AM
From: James F. Hopkins	Respond to of 94695

I Just saw some sell programs start..I don't think we will drop like we did yesterday but down seems to be the direction it wants to go. Jim

To: Pierre J. LeBel who wrote (23295)	8/5/1998 11:39:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Ok now some buy programs kicked in, there was some heavy volume in the Magic Ten at the low of the day, when the S&P hit 1063, and the DOW hit 8425, that's going to be the short term support, and could signal an improvement. This won't be a stock pickers market, The mutual funds will be at war trying to get the best position, individual issues could be very volatile, if I buy any thing it will be an index or a diversified fund. If momentum does not pick up on the down side, some buy the dips might be worth a chance as long as the momentum is subdued. Large Cap funds should go up first then the small caps may catch on. The tick is really wild, a double bottom around the 1063-1065 level would look OK , as long as it holds there..any drop below 1060, and I would get right back out. Jim PS the buy program was not as strong as the earlyer sell program, so I'm still looking for a double bottom.