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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Clint E. who wrote (18753)	12/9/1998 11:44:00 AM
From: mattie	Read Replies (1) \| Respond to of 69187

At a critical support level on SPX cash - 1185. If we break through to the upside, we could see a rally. If it fails and falls below 1182 the base that has been built over the past day will be broken and I would expect a correction. Another interesting stat. Advisor sentiment was just reported, its now 57.4%. Anything above 57% is in the danger zone, overbought territory. Of course I would like to see this market fail. I have 50% cash to invest!

To: Clint E. who wrote (18753)	12/9/1998 12:29:00 PM
From: Suresh	Read Replies (2) \| Respond to of 69187

Hi Clint, I can't believe the way banks are being played... problem maybe more than overseas condition. Even WFC is not holding with zero international exposure. To top it off, citicorp had two upgrades with zero effect. WFC.. after their analyst meeting on friday has been reiterated buy from MER with -ve effect on the stock. I guess all money managers are busy rotating their holding from others to semi land. MSPG is interesting... it goes up on secondary offering. I did short it earlier in the morning but will cover if it shows any signs of gathering strength. Later, Suresh