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Strategies & Market Trends : Tech Stock Options
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To: Judy who wrote (19770)8/15/1997 5:34:00 PM
From: Michael Rich   of 58727
 
Dear Judy, now I am Mikey? OJ can call me that since
he is senior to me:)

I was in & out today preparing my trip. Good thing, eh?
The market makes me woozy. The tech stocks look healthy?
I said "super-strong" in the early going. Does that make
me look bad :) Tech stocks still look OK ... COMPX
and NDX held the 50ema in the presence of sliding MSFT/INTC.
However, INDU and SPX are badly damaged. Light volume may
not mean a good thing here. People will do sell-into-rallies
for a while...change of sentiment. DELL may not be able to
do its magic either.....high expectation....high valuation...
unimpressive MF. So short-term I am cautious. I am not
expecting decisive bounces now. Sharp intraday swings will
be there for nimble traders. For us slow traders (heehee),
let's figure out good entry points for the stocks we like.
You know shooting for the gold.

I didn't take addtional positions today since I won't be able
to flip next week. Didn't sell anythig either. As for AMAT,
a few more days, the call premium will drop as a lot
of call buyers in the early stage of a correction.

On a side note, Kevin and Ike. It's a shame Ike took it
the way he did. He is a better man than that but his mind
is clouded now. Cultural clash? Egos exist everywhere.
I thought Ike was a good sport.

Later.
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