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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Perfect Hedge who wrote (16180)	10/1/1998 2:44:00 PM
From: dennis michael patterson	Read Replies (2) \| Respond to of 42787

I just got his on email: Jerry Favors Analysis - Thursday, October 1, 1998 2:30 p.m. At the lows today the Dow has been down over 200 points.Our 5-Hour RSI reached a low of 8 today. Whenever it falls down into the single digits you are normally near some sort of at least short term low. Any rally above 7705.13 will suggest some further bounce or rally attempt but only as long as the Dow subsequently holds above the prior print low for the day. Short term traders we had hoped for some sort of bounce which would allow us to get short with a reasonably tight stop. So far at least that bounce has not occured. However we believe it will occur soon even if the Dow sells off to new lows first. Stock traders and mutual fund switchers should be 50% short,in line with last evening's instructions. The Dow could bounce strongly at almost anytime,especially in the last hour,but stock traders and mutual fund switchers hold positions. Any rally should relative brief,that is no more than a couple of days before we break down again to lower lows. Gotta go.......