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We seemed to get a short upward thrust in most of the major markets which
failed. I have all of the major averages except the DJU hitting their targets,
so I suspect that we're going to correct the whole rally since July. My
projections all suggest that the correction will be no more than 7%. Question of
the hour is whether we're going to get a decent rally before this thing finally
tanks. DJU is suggesting that we may see some trouble in bonds.
Earl
-----Original Message-----
From: G.John Boggio <boggio@xxxxxxxxx>
To: realtraders@xxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxx>;
hvicini@xxxxxxxxxxxxxxx <hvicini@xxxxxxxxxxxxxxx>; PTB183@xxxxxxx
<PTB183@xxxxxxx>; swiahome@xxxxxxx <swiahome@xxxxxxx>; Dustman@xxxxxxxxxxxx
<Dustman@xxxxxxxxxxxx>; JBing@xxxxxxxxx <JBing@xxxxxxxxx>
Date: Monday, April 06, 1998 9:17 PM
Subject: MKT: S&P 4/6/98
>Realtraders,
>
> As many of you know, it was announced earlier today that the largest
>merger in history is now in the works between Travelers and Citicorp,
>valued at over 70 Billion dollars. Based on this news, the Dow rallied
>over 100 points earlier this morning, however, it closed up only 50.
>Further, the S&P 500 could not hold its gains and closed down 1.31 points,
>while the S&P June futures close down 7.70 on the day. Finally, the NASDAQ
>market was a complete loser, declining over 26 points on the day...or the
>equivalent of -130 Dow points.
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