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Strategies & Market Trends : Tech Stock Options

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To: Carlyle who wrote (27303)	10/28/1997 5:59:00 PM
From: donald sew	Read Replies (1) of 58727

Carlyle, No double bottom now, but there should be some retracement. It just will not retrace to the 7000-7100 range anymore. The retracement could be as small as an intraday dip or larger where it could retrace to the next strong support line. As for timing, it could be as early as tomorrow. My GUITAR is actually noticing an immediate unhealthy pattern; however it can be easily mended. I am interpreting this unhealthy pattern as a signal for a very volitile/choppy market for the near future, starting as early as tomorrow. Depending on tomorrow's action at the open, I am considering selling at a partial loss my MSH/DJX calls, then buy back on the dip. If the market is up over 100 points at tomorrow's open I will probably sell, wait for a pull-back and then buy back. There will be other signals I will looking for on an intraday basis.

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