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To: donald sew who wrote (55864)	10/20/1998 11:40:00 AM
From: HairBall	Read Replies (1) \| Respond to of 58727

donald: My "End of Day" trading indicators show the DJIA up momentum higher than my data goes back. And, after today the SPX should be also, barring a decline. Both are above their respective 200 day SMA. One heck of a bounce. If you are correct regarding the SPX PEs, most concerning! Although the TRAN and the RUT are racing up, they both are somewhat below their respective 200 day SMA. Far from a test of their old highs. If one is taking advantage of this run up, great, I am. However, I would not get married to any long position, yet! Trail those stop loss points. Caution is a word, I think about more often, lately! BWDIK Regards, LG

To: donald sew who wrote (55864)	10/20/1998 11:49:00 AM
From: pete	Read Replies (2) \| Respond to of 58727

Donald,when do you see the disaster happening?I have been trading OEX puts and calls for many years.I use as my indicators 5,15,30,60 minute stochastics as well as MACD AND McClellan Oscillators to tell me when the market is at extremes.Currently as you might expect the market has been overbought for 3 days now.The market can stay overbought for many more days!What is your time frame for your disaster to happen,this week or next.

To: donald sew who wrote (55864)	10/20/1998 12:06:00 PM
From: Margaret Mateer	Respond to of 58727

Donald, From a TA novice point of view - I've been noticing that the TICK 60 minute chart (Quote.com) is informative as it has been trending in an up channel making higher highs and lower lows - it just failed to make a higher high and looks like it could be forming a rounding top pattern. Looking everywhere for signs of a pullback! FWIW, Peggy

To: donald sew who wrote (55864)	10/20/1998 12:11:00 PM
From: PnclNk	Read Replies (1) \| Respond to of 58727

Don, <<If earnings continue to decline when the FEDs stop decreasing rates, and we are at historical high S&P P/E levels, or higher - unfortunately I see disaster, not just a pullback. Any comments.>> Let's see here . . .Extrapolating the current rate of changes happening, the Fed can continue with .25% rate cuts at two per month for about 10 more months before they reach 0%. If the Dow goes up about 1000 pts. per rate cut we will be at Dow 30000 before we really have to begin to worry again about a plunge! So - - no worries until Aug. 1999. Relax. Any more questions? Pencil Neck