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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (33388)	11/10/1998 5:38:00 AM
From: bearshark	Respond to of 94695

Hi Gersh: So far, this selling looks OK to me. The TRIN was a little high yesterday but it tried to get under 1 several times. Over the last couple of days, the ratio of up volume in the DJI to the NYSE was slightly out of wack which, over the last few months, accompanied a rush to treasuries. Today looks like it will start off lower. However, to get our 300 point drop, we need to break some eggs. This happened a little earlier than I was planning. I don't know what effect that may have. Today is another day to watch and see.

To: Gersh Avery who wrote (33388)	11/10/1998 7:15:00 AM
From: donald sew	Read Replies (2) \| Respond to of 94695

Gersh, I feel that there is strong support in the 8700-8800 range for this specific short-term downswing. As mentioned in my earlier update, the 5 major overseas markets were all in the overbought region and some selling should start, which would impact the U.S. markets. I feel that any strong downswing will not take a "V" shape, but will take the form of either a double top or a small rounding top with relative flatness, which could occur here or at higher levels. I feel that the hopes of a rate cut on NOV 17 will minimize any downswing until after the meeting(depending on the outcome). Seeya