posts:
donald sew is pretty good as well:
Subject: Tech Stock Options
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To: Tom Trader (30508 )
From: donald sew Friday, Dec 5 1997 4:13PM EST
Reply # of 30554
Hi Tom,
The technicals indicate that the recent lows for the Hi-Techs are the bottom for the near future, so I do believe that the Hi-Techers have turned and will continue up.
I have no CLASS 1 BUYS now, so I personally would not play DEC calls, but I would play JAN calls, based on my MID-TERM analysis which is saying that there is plenty of upside room for the Hi-Techs in general.
The stronger Hi-Tech indexes are the NDX, MSH, IIX, XCI. The weakest are the SOX & DDX.
Tom, the Non-HiTechs are definitely in the overbought region per my short-term technicals, so if the market is acting normal it should pullback a little, or at least remain flat. However, from a subjective view, this market appears to be hot. I would wait for any good pullback to get in. I only sold half my position on the OSX since I feel the overall market is very strong.
Technically, per my guitar calculations, the HiTechers need to play catch up.
Seeya and good luck |
