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

To: Vitas who wrote (37173)	2/7/1999 10:27:00 PM
From: bearshark	Respond to of 94695

Hi Vitas: Sorry for taking so long to respond. I am working on a project that consumes more and more of my time. Anyway, I have a 1/3 speed resistance line at 9380 on the INDU. The INDU has been criss-crossing over the line since January 22, 1999. The INDU has been following it up but is now again below it by a small number of points. Although not disastrous, it is not good since this line has not been broken significantly since its beginning on October 1, 1998. So we better move up on the INDU tomorrow. If we close down significantly on the INDU tomorrow, I would be concerned. We need to move up to 9400 quickly. Looking at the 5-day ARMs. This item is now getting pinned to about 4. Money is buying NYSE stocks. Let's see how far down the daily ARMs goes tomorrow morning. If it heads for .5, it is time to watch for a move up. The only scare I see at this point is interest rates. They must stop moving up. The Fed will not raise rates quickly because they do not want to look stupid. They will play around with the currency market instead. This can create havoc. I am still looking for a substantial move up on the INDU that I will trade. However, I will watch the rates and currencies closely. I will also watch the 1/3 speed resistance line.