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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (317)	8/27/1998 4:22:00 PM
From: Wally Mastroly	Respond to of 15132

Alas, despite 2 attempted comebacks the Dow fizzled out. quote.yahoo.com^DJI&d=1d The broader (S&P 500) index came back somewhat from the low of the day, however. quote.yahoo.com^SPX&d=1d Keep your powder dry (& any cash at hand). We will have wait for the bounceback!!!

To: Wally Mastroly who wrote (317)	8/27/1998 4:28:00 PM
From: Justa Werkenstiff	Read Replies (3) \| Respond to of 15132

Market Commentary Time for critical evaluation as we have breached the benchmark lows of DOW 8487 and Dow 8362 and the S & P 1057 to 1072. We closed at DOW 8166 and S&P 1042. Brinker is off from his 3% of 8650 definition for a direct hit as we closed below DOW 8390 at 8166 or 5.6%. According to Brinker, a benchmark low should contain all future closing lows by definition. Brinker states that it does not always work perfectly, but it works remarkably well. The volume today resembled a blowoff (good) but the price action at the end of the day was disappointing as we closed at the lows. I believe we were the subject of a worldwide margin call today. Not a good day overall. We are at an inflection point. Which way we go is the issue. Friday is the most important day of this bull market to date.