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Strategies & Market Trends : Tech Stock Options

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To: AlienTech who wrote (30671)	12/9/1997 7:55:00 AM
From: donald sew	Read Replies (3) of 58727

INDEX UPDATE ----------------- As indicated per my previous posts the overall market/indexes are overbought. As a general comment the first sector to become overbought was the NON-HiTech sectors and the DOW was down slightly yesterday. With the strong movement up in the NASDAQ in light of the dip in the DOW, the NASDAQ now is overbought, and we should see a small dip or at least flatness in the Nasdaq today. I would like to bring to attention on how the NASDAQ narrowed the gap yesterday with the DOW. This is healthy for the overall market, and as of this time the signals are for the overall market to move up more. Of course if there is anymore major fundamental changes, IE: bad earnings etc such will over-ride the technicals. I attempted to get into the XOI yesterday at 463 but due to a mishap I did not. It was not a CLASS 1 BUY but I wanted to be in just in case it and the rest of the market moves up. My strategy was to buy yesterday at the low and if it declined more today I would just average down. The XOI would be considered a CLASS 1 BUY in the 467-468 range, not to say that I think it will get that low but just to establish the bottom for this cycle in my mind. Happy trading

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