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Strategies & Market Trends : Tech Stock Options
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To: Kevin who wrote (6076)3/17/1997 12:10:00 PM
From: Tom Trader   of 58727
 
Kevin--for what it's worth--the system that I use for trading the S&P futures generated a secondary sell signal earlier today. I don't usually establish additional short positions based on such secondary signals--although I have found that these secondary signals typically portend further movement into the direction of the signal. Also, a strong reversal today in the S&Ps to the upside, would generate a buy signal on the S&Ps that I will take. With the bonds also on a sell, it would not surprise me if this sell-off has further to go.

On INTC, there is reasonable support in the 125 to 127 level. Many months ago, in a rather impulsive decision, I sold some covered calls(LEAPS) against INTC stock that I have owned for years. I'll be looking to cover these for a loss if INTC declines to the mid 120s.

Good luck with your INTC trade--given your track record to date, I suspect that you'll have a yet another winner.:)
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