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Strategies & Market Trends : Tech Stock Options

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To: The Perfect Hedge who wrote (41739)	4/28/1998 10:08:00 PM
From: j g cordes	Read Replies (1) of 58727

Beebs, I don't think we'll go straight down from here.. or at least there's a good chance to rally before a fall. Resistance forms the trading line on the way down just like support lines on the way up. Anyone can look at a chart and watch for the crossings. Currently those resistance lines are about 528-30 OEX. Above that 537 area. The drop, IF it continues to fall, will support to 490 and hold (that's about 10%). Remember this is a big bull move and needs to prove to itself that its not going higher. In doing that traders are going shake the longs and shorts positions to wring out the most from each side. Jim

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