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Strategies & Market Trends : Tech Stock Options

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To: jluker who wrote (20439)8/22/1997 9:48:00 AM
From: j g cordes   of 58727
 
Morning... trading notes

SP500indes supports at 914, 910, 902, 891, 878
lets forget overhead resistance today.........

Bonds more stable after running around globe... high mark 6.75 max in this run, would be very surprized if it gets there.

Looking for SP500index to close around 906 or 900 today
Bonds to close at about 6.6 +- .63

Discussion:

The tops were too obvious on most stocks. Very opportune time to MAKE profits, not just take profits... note Kurlak's calls tend to intentionally compound a stocks changing momentum. For example he went long MU at low, short MU as it was selling down off high. Now he's taking advantage of downturn in INTC to accelerate the move. Many will follow this pattern, after all if you want to look right you can legally post a stock downgrade today and have it be official as if you did it yesterday. That's the analysts side of this equation, its to their benefit to jump aboard a sinking ship with bad news.
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