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To: Jerry Olson who wrote (10786)	12/20/1998 8:53:00 PM
From: nicewatch	Respond to of 44573

OJ, sounds about right to me. If that longer term sideways fork is going to work again, it should happen in the next day or two, IMO, FWIW. Otherwise, the line of least resistance, for now, is up. Talk to you later Regards, Frank

To: Jerry Olson who wrote (10786)	12/21/1998 8:58:00 AM
From: Chip McVickar	Respond to of 44573

OJ, Pat,Scott, Frank and everyone I'm going to open a short here at the SPX open [paper]. Going to play it as a position trade against the trend up. I believe the market is 50/50 for a break down...by maybe a 1000 pts on the Dow. This is hedge against some longs I opened earlier [paper]. Take a look at this chart of the SPX iqc.com . There should be a time projection directional move in the next 5-7 trading days off this dominant fork. Gz pointed out this fork pattern to the thread just before he left and just as the bounce formed around 1136-40 note the bounce is a typical entry point on the lower tine. I took out a long at 1140 The middle tine is off the low prior to 12/8 Spread is the high just at 12/14 at 1166.....the low is at 1137 Time projection for an anticipated directional move is about 5 to 7 trading days. Maybe Frank can pinpoint it better...and I will look more closely as we get there. Chip OJ....Why don't you print this chart or one like it and hand draw the fork. Great way to clarify how the formation developes. The original fork formed off the high 1192 at 11/30 The spread is the big one -- low just after 11/30 at 1150 to the high at 1193 just after 12/8