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To: D.J.Smyth who wrote (65949)	9/17/1998 2:45:00 PM
From: MichaelW	Read Replies (1) \| Respond to of 176387

OT: Dow Theory We still have to get through Oct., usually a poor month. MW

To: D.J.Smyth who wrote (65949)	9/17/1998 2:58:00 PM
From: Lee	Respond to of 176387

Darrell,..Re: one of the components of the Dow Theory is that prior to a correction/bear coming to an end the utility index must begin to rise. Unfortunately not familiar with Dow theory; however, if we consider '94 as a semi-bear (because of all the rate hikes and small or negative gains on the indices), the chart below shows the turnaround at the beginning of '95 (end of '94). Also, the utes have made a huge run in the past few days as you noticed. iqc.com Util daily iqc.com monthly Regards, Lee