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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (19592)	8/28/1998 10:13:00 AM
From: James Strauss	Respond to of 50167

IQBAL: To support your argument of a turnaround to the upside it can be argued that the Dow and S&P 500 were still above their 200 day Moving Averages until yesterday's breach... If these indexes can close above their 200 day MA today that will show that the money on the sidelines thinks we are at a bottom... I've got most of my money on the sidelines, and that's where it will remain until I see the Advance/Declines and New Highs/New Lows take on a positive tone... If the Dow and S&P fail to close above the 200 day Moving Average, we can look forward to a gloomy Monday... My heart is rooting for your positive scenario, but that little voice inside me says there is too much negative market momentum at this time... Kind of like a Snowball rolling down hill... You get out of its way... Jim