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Strategies & Market Trends : SPARKY'S CORNER -- Ignore unavailable to you. Want to Upgrade?

To: Sparky Beardslee who wrote (3581)	9/2/1998 11:07:00 AM
From: Walk Softly	Read Replies (2) \| Respond to of 4142

Sparky... that would be SOP for a contra-trend rally.... we could be setting up for a whole new wave of selling come October.... given about 15 more days of consolidation at these levels.... problem is, the market just really has no where to go on the upside considering a global slowdown.... Housing weakness indicates Fed not expected to lower rates in the near term.... Fed wants another 1000-1500 points off the dow.... all the stuff I'm shorting looks sick.... bumping right up against resistance right on schedule.... this correction is dramatically different than last October's..... we've broken our 5 year trend channel.... and we haven't snapped right back atop our 200 day MA...... can't see where the buying power will come from with the way over-weight dominator's charts breaking down (CSCO YHOO DELL AOL) ES

To: Sparky Beardslee who wrote (3581)	9/2/1998 11:24:00 AM
From: Bruce A. Brotnov	Respond to of 4142

Sparky, I still am not sure who is winning, looks like were about the 5th inning. For the long side keep an eye on INTV as I think they may have pre-announced better earnings than expected. If they break through their base (19s I think) they could move up nicely. Up over 2 today on the news, but about at resistance as I recall the chart. They have a 7 rating. I tend to look for some pull back today and trend sideways a day or two. Opportunities for negative news exceed positive news plus it is time for those nasty pre-announcements that give analysts and excuse to lower estimates again. Bruce