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Technology Stocks : Data Dimensions
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To: taxikid who wrote (2846)8/21/1997 7:22:00 PM
From: TA Trader   of 4571
 
I wrote September 30's and 35's mainly just to protect my position on the pullbach I expect. I will most likely buy back at least the 30's if DDIM pulls back to 30-30 1/2 area over the next few days. As I stated last night, I'm watching the DOW carefully and the bond market. Bonds were weak today especially into the close which accelerated the late decline. I am still expecting the market to bottom above last Friday and as early as tomorrow or Monday but I must see the bond action tomorrow morning. There are just too many good looking charts of the market leaders to expect anything more than a "fake-out rally failure" decline. I'm looking to jump in on some of these if bonds are holding. (For STIFF only) If not, and the bond market is weak, then we have to look closely at this being a failing rally and a more meaningful decline is at hand. There, I guessed I covered my @ss as expected!
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