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

To: yard_man who wrote (27938)	9/15/1998 4:50:00 PM
From: donald sew	Read Replies (1) \| Respond to of 94695

Tippet, >>>>>> What do you make of the breadth? Naz has larger number of decliners. Move seems to be rather narrow, except for bounce of the airlines and banks. May not be convincing place to short -- but I wouldn't want to go long here. <<<<<<<<<<< Well the market isnt moving the way I expected. I think SEPT PUTs may be risky, but OCT's should still do fine. I am not convinced that this pullback is over. We are still below yesterdays highs, although that could be broken tomorrow at the open. the media was saying that the the banks (BKX) was supported by the hugh S.AMERICAN runup. I do not get charts on S.AMERICA, but in light of such a huge runup, there may not be continuation tomorrow on a technial basis. It may just be flat, or profit taking may step in.

To: yard_man who wrote (27938)	9/15/1998 8:42:00 PM
From: bobby beara	Respond to of 94695

tipster, I believe we made a Starr Report - fear bottom as indicated by the extreme put-call and treasury blow-off, similar to Nov. 12th, when sentiment indicators were showing higher fear levels than the mini-crash day. We need to get more overbought before we can have another leg down. I believe we are going to have a relief rally and make a right shoulder on the angled H&S pattern on the Dow and the 200 dma at around 8600 and then we will make a retest. My count on FVX 5 year note is that we made a wave 3 top and if my count is right, we should consolidate here and have one final blow-off fear bottom, probably in the scary month -gggggg- (especally if the grinch doesn't lower rates -g-) I would get out of my shorts pronto - beach is closed, polluted with sordid stories of william jefferson -ggg- disclaimer: BWDIK bb