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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: Crossy who wrote (2958)	12/3/1998 11:55:00 AM
From: Iris Shih	Read Replies (1) \| Respond to of 37387

Crossy, Can you look at the broad market for me? With decliners creeping up and outpacing advancers, it makes me very uncomfortable to hold stocks more than 1 week (for my short-term trading account). On Barron, John Murphy thinks we might pull back to 8400~8600. "Last month's Getting Technical said that the market, as defined by the Dow Jones Industrials, would probably reach the upper end of a trading range between 7400 and 9400 boundaries. Now that prices have reached the upper end of that range, we expect to see some retracement, which may have begun Monday. In fact, a pullback of one-third to one-half of the October-November gains would be pretty normal. That would bring prices down to the support levels of 8800 and 8400, where the last two corrections hit. The Dow may also retest its 200-day moving average, near 8700." Iris