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To: Broken_Clock who wrote (4511)	10/21/1998 9:31:00 PM
From: Thean	Respond to of 14427

Papaya, almost any longer term TA chart one looks at tonight will show a tremendous overbought condition at the present time. In time this overbought condition will have to give and we lose some of this steam. However, I'm not sure about the sentiment - which the chart can't tell. The sentiment has shifted, at least temporarily, to buy-the-dip mentality and we are seeing piles of cash rushing into the market the last few days. This is consistent with LT's argument of a pre-crash condition but do remember the market does not have to crash. The market can go sideway churning with the pile of money continuing coming in to fuel the upside while people short and sell into strength. This can go on till the end of the earning reason while people keep searching for evidence of a global recession in unison. The strong upmove of the market is fueled by AG and an overall strong showing in corporate earnings. After the earning season is over, only AG will fuel the rally. But if Christmas sales is anywhere near last Christmas, I would see another round of Santa rally this year, global recession knocking on the door notwithstanding. Therefore, I don't see a compelling reason for a crash soon but rather a churning kind of sick market if you will.