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

To: James F. Hopkins who wrote (25073)	8/24/1998 8:10:00 PM
From: Monty Lenard	Read Replies (2) \| Respond to of 94695

Jim, here are the scans for today. The S&P 500 was of course where the greatest improvements occurred. Seeing quite a divergence between it and the NASDAQ, SP400, SP600 & R2000. I am seeing this more in the other scans on A vs D Volume, NH NL, A vs D Issues by each Index. b>Over 10 DMA Date NYSE NASD SP500 SP600 RUT 03-Apr-98 59.9% 52.0% 69.4% 63.7% 17-Jul-98 49.7% 47.1% 52.2% 48.0% 30-Jul-98 24.3% 27.5% 29.2% 22.7% 31-Jul-98 20.3% 24.7% 18.4% 15.7% 03-Aug-98 19.1% 21.5% 19.6% 13.5% 04-Aug-98 13.2% 15.9% 6.0% 9.2% 05-Aug-98 13.2% 15.4% 9.8% 13.5% 06-Aug-98 18.9% 23.0% 19.8% 28.3% 07-Aug-98 32.3% 32.4% 29.6% 51.7% 10-Aug-98 29.8% 33.7% 27.4% 45.2% 11-Aug-98 19.2% 23.6% 16.6% 26.7% 12-Aug-98 31.5% 29.8% 38.2% 46.3% 39.8% 13-Aug-98 30.6% 29.0% 36.6% 40.5% 37.1% 14-Aug-98 30.7% 28.1% 30.0% 39.8% 36.5% 17-Aug-98 30.8% 28.7% 44.2% 41.2% 40.7% 18-Aug-98 41.5% 33.5% 62.4% 53.2% 54.4% 19-Aug-98 37.1% 30.1% 59.4% 37.8% 40.4% 20-Aug-98 32.2% 26.4% 54.2% 29.8% 32.3% 21-Aug-98 23.0% 21.5% 40.6% 24.2% 23.7% 24-Aug-98 24.8% 20.8% 49.0% 21.3% 22.9% Over 10 DMA Date NASD100 SP100 SP400 SP600T50 SP500T50 12-Aug-98 48.0% 36.0% 39.5% 44.0% 30.0% 13-Aug-98 34.0% 33.0% 33.8% 34.0% 32.0% 14-Aug-98 28.0% 25.0% 32.8% 40.0% 26.0% 17-Aug-98 52.0% 44.0% 41.3% 46.0% 64.0% 18-Aug-98 73.0% 65.0% 60.0% 62.0% 80.0% 19-Aug-98 58.0% 63.0% 47.5% 56.0% 76.0% 20-Aug-98 53.0% 56.0% 41.3% 46.0% 64.0% 21-Aug-98 32.0% 50.0% 28.0% 32.0% 58.0% 24-Aug-98 28.0% 52.0% 29.8% 26.0% 66.0% Over 20 DMA Date NYSE NASD NASD100 S&P100 S&P400 07/30/98 21.3% 24.0% 34.0% 35.0% 20.8% 07/31/98 17.5% 23.6% 25.0% 20.0% 14.5% 08/03/98 15.4% 18.2% 24.0% 15.0% 12.8% 08/04/98 10.7% 13.4% 9.0% 6.0% 6.8% 08/05/98 10.2% 12.0% 11.0% 10.0% 7.3% 08/06/98 13.0% 15.4% 17.0% 12.0% 13.0% 08/07/98 17.6% 21.2% 21.0% 14.0% 21.8% 08/10/98 16.2% 19.2% 27.0% 15.0% 13.8% 08/11/98 12.9% 12.1% 14.0% 11.0% 8.0% 08/12/98 17.1% 16.7% 24.0% 22.0% 20.0% 08/13/98 16.2% 15.8% 19.0% 14.0% 18.8% 08/14/98 17.7% 17.2% 17.0% 10.0% 20.5% 08/17/98 19.7% 18.0% 35.0% 27.0% 25.8% 08/18/98 29.7% 23.3% 55.0% 41.0% 40.3% 08/19/98 27.6% 23.1% 47.0% 45.0% 33.5% 08/20/98 27.8% 22.2% 42.0% 45.0% 34.3% 08/21/98 22.2% 18.6% 30.0% 32.0% 26.3% 08/24/98 24.2% 18.3% 28.0% 41.0% 28.3% Over 20 DMA Date S&P 500 S&P600 R2000 SP600 SP500 T50 T50 07/30/98 25.2% 19.3% 18.6% 78.0% 52.0% 07/31/98 17.2% 12.7% 11.8% 72.0% 30.0% 08/03/98 16.0% 9.8% 9.9% 70.0% 24.0% 08/04/98 7.2% 5.5% 6.5% 60.0% 4.0% 08/05/98 9.4% 7.0% 5.9% 62.0% 10.0% 08/06/98 13.2% 15.7% 11.5% 72.0% 12.0% 08/07/98 16.4% 26.2% 20.3% 70.0% 12.0% 08/10/98 16.4% 22.0% 17.6% 68.0% 16.0% 08/11/98 12.2% 14.2% 10.4% 60.0% 8.0% 08/12/98 22.4% 25.8% 19.3% 62.0% 14.0% 08/13/98 17.4% 22.2% 18.1% 58.0% 14.0% 08/14/98 15.4% 23.5% 20.0% 58.0% 10.0% 08/17/98 27.6% 27.2% 23.8% 62.0% 32.0% 08/18/98 39.0% 41.0% 36.8% 64.0% 44.0% 08/19/98 38.2% 32.7% 32.0% 60.0% 44.0% 08/20/98 40.6% 28.8% 29.2% 58.0% 42.0% 08/21/98 33.8% 23.7% 23.3% 52.0% 40.0% 08/24/98 40.2% 22.7% 22.9% 52.0% 48.0% Over 200 DMA NYSE NASD NASD100 S&P100 S&P400 07/17/98 49.7% 37.4% 62.0% 71.0% 56.5% 07/20/98 48.1% 35.4% 62.0% 68.0% 56.3% 07/21/98 47.0% 33.9% 61.0% 63.0% 53.8% 07/22/98 45.9% 33.5% 59.0% 66.0% 51.3% 07/23/98 41.9% 32.0% 55.0% 58.0% 45.3% 07/24/98 41.6% 32.3% 55.0% 58.0% 44.5% 07/27/98 40.1% 31.8% 56.0% 59.0% 43.3% 07/28/98 38.0% 31.0% 55.0% 55.0% 39.8% 07/29/98 37.7% 30.0% 53.0% 55.0% 38.0% 07/30/98 38.7% 31.6% 58.0% 58.0% 41.5% 07/31/98 36.0% 29.9% 52.0% 55.0% 37.0% 08/03/98 34.4% 27.2% 50.0% 55.0% 35.0% 08/04/98 30.1% 23.9% 45.0% 51.0% 28.5% 08/05/98 29.2% 22.5% 47.0% 50.0% 28.5% 08/06/98 30.3% 24.7% 49.0% 48.0% 31.0% 08/07/98 32.6% 25.8% 51.0% 49.0% 35.3% 08/10/98 31.0% 25.5% 52.0% 50.0% 32.3% 08/11/98 24.8% 19.7% 46.0% 47.0% 26.0% 08/12/98 26.6% 20.6% 50.0% 52.0% 30.5% 08/13/98 25.3% 20.0% 48.0% 48.0% 28.0% 08/14/98 24.4% 19.8% 45.0% 42.0% 27.0% 08/17/98 23.4% 20.1% 51.0% 51.0% 29.5% 08/18/98 26.2% 21.5% 56.0% 53.0% 32.3% 08/19/98 24.9% 20.4% 52.0% 52.0% 30.8% 08/20/98 23.7% 20.2% 52.0% 52.0% 29.5% 08/21/98 21.8% 18.5% 43.0% 45.0% 27.5% 08/24/98 21.7% 17.9% 46.0% 45.0% 27.3% Over 200 DMA S&P 500 S&P600 R2000 SP600 SP500 T50 T50 07/17/98 65.2% 49.0% 92.0% 94.0% 07/20/98 63.6% 47.8% 92.0% 92.0% 07/21/98 61.6% 46.0% 92.0% 90.0% 07/22/98 61.4% 44.5% 88.0% 94.0% 07/23/98 56.8% 41.8% 86.0% 86.0% 07/24/98 55.4% 40.2% 86.0% 92.0% 07/27/98 56.2% 38.5% 84.0% 92.0% 07/28/98 52.2% 36.7% 80.0% 86.0% 07/29/98 51.8% 37.2% 74.0% 90.0% 07/30/98 53.4% 38.0% 78.0% 90.0% 07/31/98 48.4% 33.0% 72.0% 86.0% 08/03/98 47.2% 30.5% 70.0% 86.0% 08/04/98 39.6% 25.2% 60.0% 76.0% 08/05/98 40.4% 25.8% 62.0% 76.0% 08/06/98 41.8% 29.7% 68.0% 74.0% 08/07/98 43.0% 33.8% 31.0% 70.0% 74.0% 08/10/98 41.2% 31.2% 29.2% 68.0% 74.0% 08/11/98 36.0% 24.5% 23.6% 56.0% 70.0% 08/12/98 41.0% 28.5% 26.8% 62.0% 76.0% 08/13/98 38.2% 26.5% 25.4% 58.0% 68.0% 08/14/98 34.6% 26.5% 25.0% 58.0% 64.0% 08/17/98 39.8% 25.3% 25.6% 62.0% 76.0% 08/18/98 42.4% 29.5% 28.7% 64.0% 78.0% 08/19/98 41.0% 26.7% 26.5% 60.0% 76.0% 08/20/98 40.4% 24.7% 24.8% 58.0% 72.0% 08/21/98 36.6% 22.7% 22.6% 52.0% 60.0% 08/24/98 38.6% 23.3% 21.9% 52.0% 62.0% Monty

To: James F. Hopkins who wrote (25073)	8/24/1998 8:14:00 PM
From: Daniel Ray	Read Replies (1) \| Respond to of 94695

<<we could just as easy pass into a somewhat volatile, but longer term flat period similar to what we had from last OCT 27, to Jan 12th. Those kinds of times are good at eating up premiums on both puts and calls.>> Hi Jim . . . my gut feeling is that you are correct on this point; I have made the argument before, not based on short-term technicals but rather on broad-based market dynamics . . . the more people expect (and desire) big moves the more likely the market is to take their money by going nowhere. The market always finds a way to move money from weak hands to strong ones. Best wishes and good luck!