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Strategies & Market Trends : Tech Stock Options

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To: donald sew who wrote (34519)	2/1/1998 8:17:00 PM
From: j g cordes	of 58727

Hi Don, February and June are typically the weakest months. We've had a strong January considering the anticipation coming into the year. Techs have rallied on relief that Pac Rim damage hasn't yet affected revenue streams, although many of the reporting companies warned that the next few quarters already don't look good. A short article in the Washington Post this evening illustrates how Russia is being affected. After the initial new money/new month pattern exhausts itself I think we'll see a soft decline back to the lower range of channel with any opportunity to dagger the decline being accelerated by programs. Interest rates are and will continue to be supportive. I expect inventories to build and mid ticket items to remain strong. I was surprized that big ticket items like appliances were weak.. but autos haven't had such good financing in years. French economy is very weak, they're even considering siding with the US against Iraq.. a sure sign they need business. Oil prices are no mystery if you live in the Northeast. I'm waiting on puts and selling.

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