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To: waverider who wrote (2320)	8/31/1998 3:03:00 PM
From: Thean	Respond to of 14427

Diamond, TA is LESS useful now than in previous week when there was a tug of war going on. Now the near term trend has become obvious and people have decided to sell into strength, this is the perfect environment for pure TA'ers to lose confidence. During a major selloff like we have now, supports are taken out with great ease. If this trend continues for 2 months, the best approach is to sell and hold. <gg> Therefore, I think NKE's 96 support is irrelevent. Does not look like we are even going to attempt a rally into close. Disappointing indeed. It looks like I have covered too early in MRK as well, but I switched to JNJ so I'm equally hedged and play with all house money now. UN should be put and this is a good trader.