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

To: Bull RidaH who wrote (26456)	9/4/1998 7:09:00 AM
From: OVETUS	Read Replies (1) \| Respond to of 94695

David Plonk<Are you expecting a 10% rally on the SP today? "I believe tomorrow (Friday)will be an up day, with potential for a 2 of c pullback to the 1077-1082 SPX area. My strategy today was to buy Sept. calls on the dips to hedge my large Oct. put portfolio. I believe this strategy will work again tomorrow, and I may buy more calls on the dip to the 1080SPX area, and sell them on the close. My cycle duration analysis calls for this c wave up to conclude in globex trading before Tuesday's session (around 4:30 am Tuesday). " David: Are you telling that the Sp is going to climb till 1077-1082 area from friday to Tuesday before opening? With Monday closed, you mean is going to climb today and after the close and before the open, but anyway, if we closed yesterday at 982.26, and going to 1082 is a 10.15%, are you serious about that?. Furthermore, you are saying that you plan to buy more calls "on the dips to the 1080 SPX area", i really don't iunderstand you, what dip? where are we going to be coming down from to say on the dips to the 1082 area? Please let me know if you think that if the SP today breaks the 1013 area it will shut up to the 1082? is that what you think? and finally, are you still expecting the big sell wavw down to start next week? on tuesady or wedenesday? please let me know your points, i am very interested in knowing if we are near the big downturn, but maybe we have to go up big again before that, but seems to me that it all could be done in just a couple days, and that SCARE ME A LOT. take care. Juan Jose.

To: Bull RidaH who wrote (26456)	9/4/1998 7:36:00 AM
From: HairBall	Read Replies (1) \| Respond to of 94695

David: The active pattern I saw form in today's trading was an ascending triangle. I did not see this pattern, but I did see a bearish flag formation on SPX. Message 5668548 BWDIK Regards, LG

To: Bull RidaH who wrote (26456)	9/4/1998 11:24:00 AM
From: Arik T.G.	Read Replies (2) \| Respond to of 94695

David, A thorough read, thanks. Yesterday's second half of trading has confused my short term reading. Maybe you're right, and a failed rally Tue morning will ignite the crash. But I still expect the market to drop today. The individual stocks chart look just too ugly to hold. IMO it'll reach OEX 488 at the most today, before turning ugly. I'm confident that if we fall below 475 today, it will cause a melt down starting at 14:30. But I'm not as confident as I was before yesterday's rally at 15:20. My scenario called for at least 2% down yesterday, but a 5% down today will make up for it ;-) ATG