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To: Byram who wrote (58145)	11/30/1998 8:36:00 AM
From: HairBall	Read Replies (1) \| Respond to of 58727

Byram: Should have known that "I-35 Raceway tading system " would work.. Well, that is the INTERSTATE 35 ROAD KILL TRADING SYSTEM and it does NOT work 100% of the time...<g> Regards, LG

To: Byram who wrote (58145)	11/30/1998 9:09:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE ----------------------- Forgot to mention the situation with the NEW HIGHs. Last week we had 2 days where the NEW HIGHs exceeded 100 slightly. Previously, I had mentioned that if the NEW HIGHS stayed below 100 and the NEW LOWs were in the the 10-50 range for over a month, there is a strong probablitly that the following month would pullback 5%+. The NEW HIGHs only got to about 120 and 105(dont remember the exact figures), so does that totally negate it, or was it an overshoot. Friday the NEW HIGHs got to the 60 range again but that could just be skewed by the shortened trading day and holiday week. However, if the NEW HIGHs do not get back over 100 immediately and stay there then I will interpret those 2 days of surpassing 100 as an overshoot, and we should see a 5%+ pullback in DEC. The market internals are not supporting these levels, nor supporting further move up. This is not to say that the market cannot not move up more, but if it does I will consider it as another BALLOONING phase, unless the internals can improve dramatically. I would like to bring out the issue of the analysts. I keep on hearing that the market is all the way back to where it began, which is only a partial truth. The NYSE only has about 35% of their stocks above their 200 day moving average, but when this pullback started in APRIL/JULY, the figure was 70% of the issues above their 200 MA. I do not have the stats for the NAZ, and do not have the stats pertaining to the the number of stocks which have totally regained their all their losses. My belief is that the majority(over 50%) have not regained all of their losses. Wondering if anyone has exact data on how many/percentage of stocks have met or exceeded their highs made during the APRIL/JULY period. The media/analyst are basicly saying that if the market just held their stocks there would be in the same position as when this decline started, and I feel that is only a partial truth. I feel that such statement applies to a relatively small percentage of stocks, and that the majority of people are probably still in some sort of a loss situation overall. All of those I know are still in a loss situation since most of them had their core holdings in financials and cyclicals. I just want to bring out the issue on how the ANALYSTs/MEDIA can skew the total truth. Hope anyone can help with some precise date pertaining to the number of stocks which have regained or exceeded all of their loss. Seeya