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Strategies & Market Trends : Tech Stock Options

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To: Chris who wrote (45300)	6/9/1998 11:20:00 AM
From: donald sew	of 58727

Chris, I feel that as long as the inderest rates stay this low or close to it and below 6% we could easily go up, but by how much. I am still holding to my trading range of 8750-9300 which has held for almost 3 months already. I do agree that I am also seeing signs of bottom formation in most of the major indexes especially in some of the HiTECHS (SOX, ETC). But the question is how high will it go in the short-mid term (5-30 days). Longer term - sure things could change quickly and we could be off to 10,000. We have been in a downward correction for 2+ months and it was hard and slow for the market to come down with all that sector rotation. Subjectively, feel that we will have that same difficulty to move to the upside, where it would be an extended process and could take several mini up cycles. Last Fridays huge jump of 160+ points can be misleading to expect/hint that we will just explode to new highs, when and if we do. seeya

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