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To: robnhood who wrote (7512)10/2/1998 9:25:00 PM
From: Joseph G.  Read Replies (1) | Respond to of 86076
 
IMO there is a good (reasonable) chance of a big selloff on Mon. The week was down much, there were also some sell TA signals (like 50DMA cross 200DMA on SPX), and some folks who trade on weekends will sell. Aug 30, 31 were some of similar days in Re TA weakly signals (now the signals are different, thus different folks selling, or confirmation signals). Many important stocks were weak today, to close. Major strength was in major Oils, I-nuts, Golds - not kind of things to start a bull market. Many industry groups closed down even today.

OTOH the Govs. may raise PR noise over the weekend, and dupe folks into buying. However, folks who would buy on Gov. signal are probably already in. If rally continues, IMO it'll stall out in two days max, and below last We peak.

Will see -g-