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To: The Perfect Hedge who wrote (52817)	9/16/1998 11:53:00 AM
From: donald sew	Read Replies (2) \| Respond to of 58727

INDEX UPDATE - INTRADAY ------------------------------- Obviously, no firm direction so far. Around 11:30 the TICK got up near 600, but the DOW was only able to get to UP-20. Not great for a positive 600 tick. On the other hand, at about 10:45 the TICK got to about NEGATIVE 100 and the DOW got to NEGATIVE 28. For the time being this is not a sign of strength, but possibly some weakness on the horizon. Of course it can change at anytime, and I have not forgotten that we have GREENSPAN in about an HOUR. Would not be surprise if we rally in the next hour into the Greenspan meeting. Seeya

To: The Perfect Hedge who wrote (52817)	9/16/1998 12:18:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

Beeble, We ran up 600 points and many are getting bullish. Many forget that this rebound is only about 50% of the last decline(top of this decline at 8689 on 8/25). If we use Jerry Favors figures the average rebound is 62% and we are still below that. Also keep in mind that after the OCT crash the rebound was over 70% in 6 days. Yes the OCT dump was only a correction in a BULL market, but isnt that what the BULLs are calling for now, that we are just in a large correction. Dont get me wrong, since I am not saying the BIG KAHUNA, just a trading range. We will get a pullback sooner or later, and then lets see the strength of that pullback. If the forthcoming pullback does not even get close to 7400 before reversing back up, then that would be a technical signal of mid-term strength. I guess its natural, the market runs up and the BULLS come out and when the market runs downward the BEARS come out. When the bullish tone gets too strong then its the time to sell, and when the bearish tone gets too strong then its the time to buy. I use my broker as a contrarian indicator, and hes a good one for the last 6 months. He's bullish now, so must be a time to sell gggggggggggggggggggggggggggggggggggg Seeya