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

To: Chris who wrote (13945)	8/5/1998 10:40:00 AM
From: dennis michael patterson	Respond to of 42787

FAVORS expects a buy signal this afternoon. He emphasizes it is for ST traders only. As of 10:30am, he says any move above 8536.74 by 11:30 will signal further upside. His remarks were summary in nature, but it is pretty clear that, as of this time, he expects the market to turn up this afternoon. Next update is at 12:30. I plan to call in and get it, as I have some OEX options, and I am interested in adding to my position in calls if things look better.

To: Chris who wrote (13945)	8/5/1998 10:43:00 AM
From: FJV	Read Replies (2) \| Respond to of 42787

Chris, The bounce so far has been much weaker than I anticipated - max of about 9 points up on the SPX so far. I am keeping an eye on the 9 EMA on the 15 minute chart of the SPX. It is illustrating some strong ST resistance, as it did all afternoon yesterday prior to the big drop. I won't dabble on the long side, even on a very short term basis unless the SPX convincingly breaks through the 15 minute 9 EMA. It looks like the buy the dip crowd is not so confident - at least not yet. Franco