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To: Judy who wrote (16664)	10/15/1998 7:23:00 PM
From: dennis michael patterson	Read Replies (1) \| Respond to of 42787

Well Judy, I agree that Favors believed that 8200 would contain this rally. But I cannot fault him for failing to take into account a rate cut. What can you do with that? Frankly, the possibilty of a rate cut has kept me minimally in puts. I hope now to make money on the short side again (serious money). I've been making pizza money trades for a few weeks, and now I need to do better. Dell a short/puts if it cannot take out 60, for exmpale, is the sort of trade I will be looking to make.

To: Judy who wrote (16664)	10/16/1998 12:22:00 AM
From: Joe S Pack	Respond to of 42787

Judy, I greatly appreciate your posts. In response to Favours argument you mentioned a valid point. I would like to see what will happen to his argument if AG cuts the rate by another 25basis points in November. By that time frame Japan should have a better plan in place. So my view is that his technical stuff work if there is no harmon shots like rate cuts and international political events. Otherwise we have to view his analysis objectively. What is your reading on PFE and IBM? -Karun