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Strategies & Market Trends : Tech Stock Options

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To: mozek who wrote (31453)	12/18/1997 7:07:00 AM
From: donald sew	Read Replies (1) of 58727

Mike, As for the XOI, I do see the support at 249-250. Good job on the IIX. I do see the support in the 237-244 range. It looks like the Technical Delayed Dip is taking effect, and as I noted previously, it normally retraces back to the recent bottom. Of course there will be the stronger indexes where it will not retrace all the way back down, but there will be cases where the retracement will be back to the recent bottom, as it has already done with the XOI. So I am confident that this TECHNICAL DELAYED DIP has occured since the OILs are already back down. Now the question is how many more of the indexes will retrace back to the recent bottom. The next key is that the recent bottom holds and then we move up stronger from there. Seeya

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