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To: dennis michael patterson who wrote (52338)	9/11/1998 6:03:00 PM
From: HighTech	Read Replies (5) \| Respond to of 58727

Dennis: (or anyone) I have been reviewing some IBD charts of the correction in July of 96, March and October of 97 and it looks like the market goes up just after a capitulation bottom. We have had a couple of those in the past few weeks already and according to IBD, we had a reversal buy signal this week, which has been an extremely succesful sign of ensuing bull runs over the past decade with only occasional false signals. These are signs of a bottom never to be reached again possibly. Jerry Favors is saying we will go to 7400 and below this year despite what I mentioned above. I think that's pretty risky to trade on the downside especially since we have corrected about 18-20% already. Question: What was Jerry Favors saying around July 20th, 1996 and in March of 97 and in October of 97? I am just curious if he was calling for still lower lows even after some good down days that on heavy volume turned around and formed a cross on the charts and ultimately proved to be a bottom. Do you go back that far with JF? Anyone else know what his specific recommendations were right in the middle of those corrections/mini-crashes? Sure would like to know. HiTech