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To: MonsieurGonzo who wrote (51299)	9/1/1998 6:50:00 AM
From: donald sew	Respond to of 58727

Steve, >>>>>> Anyhoo - oversold is understatement (!) and we scalp the bounce, sell into any rally, n'est-ce pas ? <<<<<<<<<<< With the futures up so high, I expect that there will be some short-covering today and possibly into tomorrow and we could get the 200-400 upswing, which may be the last chance to initiate PUTs. There will be at least a retest of the yesterdays lows, but I strongly feel we are going lower and that when we start heading down again it will be another big down leg. I think 6500 range is very feasible by SEPT expiration. Seeya

To: MonsieurGonzo who wrote (51299)	9/2/1998 2:09:00 AM
From: Dwight E. Karlsen	Read Replies (2) \| Respond to of 58727

U.S. analysts urge buyers to wade back into stocks biz.yahoo.com HK stocks open sharply higher on Wall Street biz.yahoo.com Asian markets sweep back up on Dow rebound biz.yahoo.com ok I was just bored. The first article is the most interesting. It shows how the doom and gloom on the newswire the evening of a dramatic fall isn't necessarily an indicator of the next day's trading...obviously. But more to the point, you never know what the "buy-side" is being told via the brokerage big-shots like AJC. Never count out AJC until she's pulled an Elaine Garzarelli. AJC is probably the most respected, envied, and admired muckety-muck on WS. My guess is that shorts scatter to the four winds when AJC speaks. I do have a flair for dramatic. -G- ...Abby Joseph Cohen, one of Wall Street's longest-running bulls said, ''We expect little impact (from the developments) on U.S. economic growth, corporate profitability and cash flow, suggesting that values have notably improved in recent weeks.'' ''Importantly, we do not expect global recession this year or next,'' she said in a report issued Tuesday. Going a step further, she said investors should put more money into stocks. She urged that 72 percent of assets in a balanced portfolio be invested in stocks, up from 65 percent. The 5 percent that she had previously recommended in cash should now be switched into stocks, and investors should cut back investments in commodities to 3 from 5 percent, Cohen said. It was the first time Cohen has changed her numbers since Oct. 28, 1997 -- when the Dow rebounded 337 points, just a day after plunging a record 554 points. Many credited Cohen and a massive stock buyback by International Business Machines Corp. for the turnaround. btw, good evening, MG.