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Strategies & Market Trends : Tech Stock Options

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To: AlienTech who wrote (27953)	11/6/1997 6:46:00 PM
From: donald sew	Read Replies (1) of 58727

Hi AlienTech, My data is not updated yet, but from some quick calculations INTC should be a CLASS 1 BUY either tomorrow or Monday. The SHORT-TERM technicals on the SOX is still relatively high in the upper mid-range with a bias to the downside. The support areas for the SOX are: 316 weak and it blew by it today 305-309 very strong 301 strong. The SOX is far from a CLASS 1 BUY, but if INTC pops up soon it should have a strong positive effect on the SOX and other Hi-Techers. On the other hand, the weakness in the SOX could also hold INTC down even though it is a CLASS 1. 70 is a strong short-term bottom for INTC. From my calculations, if INTC hits 70 the SOX should be at least a CLASS 2 BUY. INTC is a CLASS 1 BUY at 73. I just dont like the position of the technicals of the SOX right now since they are still high.

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