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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (26634)5/27/1999 5:59:00 PM
From: Jorj X Mckie  Read Replies (1) | Respond to of 50167
 
OJ,
Oh, I put my bearish face on a couple of days ago...I even bought NEM calls. Still mostly cash right now, but I do have some put positions and a couple remaining calls (CS, NEM, no nutz). Of course DJIA broke another double bottom today. I am looking for your original target of 10350 to be achieved pretty quickly. If the NYSEBP does turn south, my target for the DJIA is around 10000 (the point of the last breakout). Jan posted the bell curve distribution of sectors and we don't look to be in a terribly overbought condition, so I think that the downside is limited. My worst case scenario would have to be a bounce of the BSL at 9650, but I don't think we will see that.
Tom



To: Jerry Olson who wrote (26634)5/27/1999 6:17:00 PM
From: Jorj X Mckie  Read Replies (1) | Respond to of 50167
 
OJ,
Just to add to my list.

SPX worst case target would be 1225ish. That puts it at the BSL and a quad bottom on the 10pt chart.

So I am bearish for now, but no BK, just a correction.
XXX


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