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Strategies & Market Trends : Tech Stock Options
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To: ViperChick Secret Agent 006.9 who wrote (29527)11/25/1997 2:29:00 PM
From: Muizz M. Kheraj  Read Replies (1) of 58727
 
Just my observation of the markets...being still long on the SXBXL & TXNXJ.

The market did meet support at the predicted points of 944-946, and subsequently has rallied, but is now finding resistance at the previous support point of 951.50. It is now heading to the southerly direction once again.

I'm not going to hold my short position further if we again find support at the 944-946 levels. But, one note...most bulls (including my broker) are taking this weekend off...most are already heading home, as this evening will be light, tomorrow will be lighter still and Friday should be a joke..the BEARS have the opportunity in this light to take advantage and bring the market down. I am surprised by the market's resiliency, but do believe some slippage is inevitable here in the short-run.

Muizz
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