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Strategies & Market Trends : Tech Stock Options
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To: Nemer who wrote (29745)12/1/1997 8:28:00 AM
From: Kevin  Read Replies (2) of 58727
 
Morning Nemer, how are ya? Went dirt bike riding again yesterday. The 3 of us got nailed for "unauthorized vehicles in a state park".
Ba$tard was waiting at our truck for us. He also found our after riding refreshments and alcohol is a no-no in a state park. The guy wrote us tickets until his hand cramped up <<<g>>> No biggie....we were done riding for the day anyway (great day too), and there was a bar right down the road, so he didn't ruin our fun. Wasn't the first time my father and I were nailed. Maybe we'll eventually learn to NOT park the truck on state ground...of course maybe we'll never learn :-)

Anyway, it's a fresh week and everyone is back from the holiday. Hopefully we can break out of this range that we've been trading in.

SPX:
970.37
962.88
959.14
piv: 955.39
951.65
947.90
940.41

Break Point:954.40

SPZ7:
972.60
964.90
959.90
piv:957.20
952.20
949.50
941.80

Break Point:954.90

I'm still in the OEX 465 calls, and today's numbers still confirm the bull trend.

I did several extra calculations which indicate a strong resistance in the SPX @ 962.88 - 964.09 and 963.30 - 964.90 for the SPZ7.
If this area is taken out (on both), I'd consider it a break out and IMO we'd make a rapid move to res #3.

Talk to you later.
Kevin
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