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To: donald sew who wrote (49704)	8/11/1998 9:33:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 58727

Hi Donald, I know you don't follow E-wave, but I will tell you that today was a third wave sell-off (of wave 5 from the 7/20 peak) Third waves are known as recognition waves. The wave into last summer/fall was a third wave. This is where people with a bearish slant call a market top (like me) and John Q. Public recognizes that the stock market only goes up. and this is reverse in a bear market. This is where bulls recognize a bottom and I here a lot of bulls talk about a retest. I don't see any support till 7800 which is the trading range target on the Dow break. Oversoldness means diddly in a bear market. Bears are much meaner to bulls, then bulls are to bears. yen broke critical support @146 and Nikkei broke 50dma. I think we retest or break the lows on the nikkei. bwdik, bb

To: donald sew who wrote (49704)	8/11/1998 10:16:00 PM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 58727

I wonder how big the rebound will be tomorrow. she goes down, she goes back up, as surely as the waves keep rolling onto the ocean beaches. Globex has been quite accurate lately in picking the next day's direction. Late last night Globex was down solidly about 5.65 pts (Sept SPX). Same about for Oct SPX and Sept NDX. Right now Globex is up across the board. It's early yet, but last night the early trend (-3.5 to -4.5) strengthened as it got to early am EST. We'll see. I blame it (recent drop and retest) on Clinton's lying, perjury and philandering. It's putting people in a bad mood.