Erases

Friday’s Sell-Off Erases Early-Week Advances

Following three straight days of advances the bears reclaimedthe futures market last Friday when early selling pressure piercedthrough several interim levels of support. From that point the routwas on as the February contract plummeted sharply lower inafternoon trading. Only the final bell could halt the decline thatleft the prompt month down 11.4 cent to $1.778.

January 25, 1999