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To: yard_man who wrote (3924)	8/16/1998 9:25:00 PM
From: Joseph G.	Read Replies (1) \| Respond to of 86076

UTX's a slow but sure mover. Though - we had a four week uninterrupted downtrend and sit now at 200 DMA on large-cap indexes, time's about right for a rally attempt soon, to retrace 1/2 way to 9,350. Many small caps look cheap - for now, so bottom fishers fish them. The problem is going to be that they're gonna have negative earnings soon, reduced sales, etc, and won't look cheap anymore. It's a common thing at beginning of a bear that declining stocks look cheap compared to standards of recent past. Assets disappear, dividends get cut, sales and margins go down the drain ...