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Strategies & Market Trends : Tech Stock Options
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To: Tom Trader who wrote (30685)12/9/1997 12:04:00 PM
From: Arik T.G.  Read Replies (3) of 58727
 
Hi TT,

Looks to me that on this vertical run you don't need to exit your calls.
If the market (SPX) closes on the positive today the charts in my eye look like a gap up tomorrow open. So far corrections were the minimal necessary for the surge to go on.
A negative close today would IMO indicate a more thorough correction, but I'm looking now for Dow over 9000 and the Millennium Crash starting between end Jan and mid Apr '98.

Am long PSFT Jan 30 calls today, after I sold my Dec 30s
yestarday.
It's a position I originated by following the 5/21 EMA crossover. Closed the puts I had and bot the then 60 calls on the signal for 8 5/8.
A small position, but the only one I have now.
I'm watching INTC closely. A big time short opportunity if the stock drops below 76 1/2. Will break many supports, and the 5/21 is still on sell.

Do you have those stats re the 5/21 EMA crossover system. Would be helpfull for devising the screening method on signals.

ATG
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