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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (12830)	5/4/1999 3:34:00 PM
From: Mao II	Read Replies (1) \| Respond to of 99985

Juice: T-Rate is the Big Mama mover. All ya need for icing is a war. Mmmmm. M2

To: Jerry Olson who wrote (12830)	5/4/1999 3:46:00 PM
From: Les H	Read Replies (1) \| Respond to of 99985

OJ: I think there'll be continued high volatility both up and down with the VIX continuing to move up and frustrating the OEX put holders and to continue to ratchet up the put premiums. I'm looking for 10,650 or 10,400 to hold near term. If the eventual correction materializes from here, I think it may hold off till after May puts expire. As far as bear markets, most of the severe market declines that I've checked really started when the market was off 7-10% and failed to stabilize on a retest of the reaction lows. We've yet to have a 5% or greater correction since the February-March correction that would precede such a cascade fall. I've been in the intermediate-term correction term camp since mid-April. However, I've been open to the possibility that the market may hold the fort with a less than 7% pullback while the growth stocks prepare for another run in June-July. If the second scenario occurs, the leading internets, net-brokers, telecom, etc. that have held up reasonably well will probably start emerging from bases by early June.