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

To: Judy who wrote (16595)	10/12/1998 12:29:00 PM
From: KM	Read Replies (1) \| Respond to of 42787

Judy: Did you see that Ralph A has done a reversal this a.m.? From today's Technical Outlook (10/12): ___ Near-Term Last Thursday we lowered our expectations for the Dow and S&P 500 averages (see 'intermediate-term stock market outlook' below). On that very day there were a confluence of many negatives—deteriorating breadth as the transports, techies and many large cap names were in free fall. However, at the end of Thursday's session it was very clear that the DJIA did not break below the critical 7400 level. Friday's upside reaction was indeed very impressive. Therefore, we believe that a good near term low is in place. We expect a vigorous upside follow through. We believe the market's near term outlook is positive and should be played on the long side.