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Strategies & Market Trends : Tech Stock Options

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To: donald sew who wrote (30067)	12/3/1997 11:44:00 AM
From: donald sew	Read Replies (1) of 58727

INDEX UDATE ------------------- XOI = the CLASS 1 BUY on them is intact and they are showing technical strength. OSX = the JAN 100's which is obtained yesterday for 14.5 are now around 20. There is a slight resistance line at 119 which it should not be that hard of an obstacle to pierce. The next and stronger resistance line is at 128. From some quick calculations, the OSX will be approaching the overbought region above 120 per the short-term technicals. If/when it hits overbought range and if it is done quickly, which at this time should be in the 120-125 range, I will sell calls.It has been brought to my attention by emails that some have entered this play on my comments; therefore I will attempt to keep frequent updates. SOX - Per my earlier note the target price for the SOX was 271-278 and so far it did get to 278.80 and bounced slightly off it. I am not playing the SOX for reasons mentioned earlier.

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