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Strategies & Market Trends : Tech Stock Options
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To: Gary E who wrote (22552)9/10/1997 1:33:00 PM
From: Tom Trader   of 58727
 
>>can't quite understand what the support numbers realy mean

I was trying to respond to Lisa's post.

The points that I identified are those which based on price action and /or indicators would suggest that there should be varying levels of support. Not necessarily that support is stronger at each level. It was an attempt to assist Lisa with where she might want to exit her puts. In terms of strength of support, I'd say that 921 should offer good support and 900 is strong support. If the SPX decisively breaks 900 on a closing basis, this market is in trouble, IMO.

Support and resistance tends to be in the eye of the beholder, to some extent -- and depends on the indicators that one tends to use in evaluating it.

Hope this clarifies what I meant.
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