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Strategies & Market Trends : Tech Stock Options

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To: Tom Trader who wrote (16564)	7/24/1997 1:36:00 AM
From: Suresh	of 58727

Tom, what is your opinion on drug stocks (technically) ? Seems to me that they have entered a state of rest or consolidation. Do you see the same ? Money might be moving to biotech's finally.. On a side note some troubling factors.. 9 day RSI is not confirming the new highs in S&P500. Also, 10 day moving average of equity put/call ratio is getting awfully low but as others have pointed out that extremity of this ratio can be used for continuation of the longer term prevailing trend. BTW, this Aug expiration will be a fun day if the bullish trend keeps going to expiration. Many people buy the calls but don't exercise there by forcing the option market makers to liquidate their long position during expiration. Sure plays for some months have been to buy in the money puts on the day of expiratoin on IBM and INTC and close the position in the last 20 mins of the day for a nice gain. Good luck and thanks, Suresh PS: Clint is calling DELL to close at 154.50 on friday.

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