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Strategies & Market Trends : Tech Stock Options

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To: Tom Trader who wrote (31373)	12/17/1997 7:45:00 AM
From: donald sew	Read Replies (1) of 58727

INDEX UDATE ------------------------------ Firstly on a non-technical viewpoint, the ASIAN markets are up strong and the futures are now up over 4 so the market should open to the up side today. The charts on the SOX and XOI and some others gave a signal that the TECHNICAL DELAYED DIP may occur soon, whereby there may be a partial or full retracement to the recent bottom. Please understand that I am only talking of the short-term (1-5 trading days). Such signals need to be confirmed, and I am not bold enough to say that I am very confident it will happen - I simply saw 2 relatively small signals, they could be nothing. My 2 largest positions are in the XOI and OSX for now. The OSX looks fine and it responded to my CLASS 1 BUY yesterday nicely. The XOI is making me a bit nervous. I am fully aware that it is a slow mover, nevertheless I noticed an INVERTED HAMMER yesterday in the early part of the reversal, which started on MONDAY. That is not a great sign. When I first got the XOI's last Thurday it was one of the strongest indexes in a down market, then Friday it was one of the weakest Non-HiTech indexes. It rebounded nicely on Monday, but showed weakness again yesterday. I will be cautious with the XOI's. As of this time my target on the OSX is 120+ by JAN expiration, and 470 for the XOI. Happppy trading.

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