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

To: Monty Lenard who wrote (25427)	8/28/1998 8:17:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Monty; Thanx again, and Awsome! is a good word for it, clearly over sold, but with so much damage the bounces may not be worth playing, unless you just get lucky to catch a bottom, but the bottom spikes are sharp, short lived and hard to catch, at this point I would say we have a new down trend and may just sit it out till they trash things out enough to break it. We will not be able to count on our market alone to show us that, the world markets will also have to start some sort of recovery before any up side can be considered worth playing. I suspect if we bounce next week people will start selling into the rally. Jim

To: Monty Lenard who wrote (25427)	8/28/1998 8:59:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Monty; In spite of every thing there are some Bulls ready to rush the market on the open, this will be one wild up/down/up day. I think we will see a rally close to 8500 sometime next week, at that point I'll have to take another look. --------------- The futures pits are churning to much for me to keep up with, I think the hedge funds are out of liquid reserves and going on margins, trying to play catch up with their losses in Russia and Asia, they have taken leveraged short positions in the U.S., any U.S. rally could be the undoing of many of them. Jim