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Strategies & Market Trends : The OEX... gasp!

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To: Kent Reeves who wrote ()7/22/1996 5:54:00 PM
From: george saintonge   of 658
 
OEX -- after last weeks excitement i've made room on my screen
for oex cash (611.18 at close monday) with the 615 call and the 605
put. I have some buy indicators at this time but mondays action makes
me wait ...we rallied too far too fast (nasdaq 52 % ,and s&p500 50%
of recent downdraft in only 2 days.) Now i want to see action in
s&p500 sept. futures around 630 level that has been a very big #
all thru 1996. Also last weeks low TICK reading was around -1930

OEX cash was down to 583 last tuesday, I think its crying time if
those lows get taken out because many large cap, non-techs, are
still near their highs of year.
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