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<DIV style="FONT: 10pt arial">----- Original Message -----
<DIV style="BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A
href="mailto:vonhef@xxxxxxxxxxxx"; title=vonhef@xxxxxxxxxxxx>vonhef</A> </DIV>
<DIV><B>To:</B> <A href="mailto:tesla@xxxxxxx"; title=tesla@xxxxxxx>Terry S.
Smith</A> </DIV>
<DIV><B>Sent:</B> Sunday, October 17, 1999 3:01 PM</DIV>
<DIV><B>Subject:</B> Re: where will the selling end?</DIV></DIV>
<DIV><BR></DIV>
<DIV><FONT face=Arial size=2>If this weeks action confirms the break of the
"neck-line".....we might have some upswings on the trip </FONT></DIV>
<DIV><FONT face=Arial size=2>down, but you better set the target much
lower.</FONT></DIV>
<DIV><FONT face=Arial size=2>Adam Hefner</FONT></DIV>
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<DIV style="FONT: 10pt arial">----- Original Message -----
<DIV style="BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A
href="mailto:tesla@xxxxxxx"; title=tesla@xxxxxxx>Terry S. Smith</A> </DIV>
<DIV><B>To:</B> <A href="mailto:realtraders@xxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxx>realtraders@xxxxxxxxxxxx</A> </DIV>
<DIV><B>Sent:</B> Sunday, October 17, 1999 3:57 PM</DIV>
<DIV><B>Subject:</B> where will the selling end?</DIV></DIV>
<DIV><BR></DIV>
<DIV><FONT size=2>Dec S&P's</FONT></DIV>
<DIV><FONT size=2>In trying to figure out where this correction will end I use
the following technique. If the market has truly turned from a bull to a bear
it may now begin to trend, the last decline should be helpful determining
where this most recent decline should end. Allow me to explain. </FONT></DIV>
<DIV><FONT size=2>The top on July 16th was at 1444.80 it carried down to 1287,
for a move of approximately 158 S&P points. If I project that decline onto
the most recent high on August 25, 1999 of 1403, I will get a projection of
1245.00 (1403-158=1245). Bradley has a turning point on Tuesday so I would not
expect a bottom until then. Anyone else have any other projections to what
price we might find a bottom. Happy trading. </FONT></DIV></BODY></HTML>
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