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Strategies & Market Trends : Tech Stock Options

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To: j g cordes who wrote (32034)	12/29/1997 5:45:00 AM
From: donald sew	Read Replies (2) of 58727

INDEX UPDATE -------------------- Here's how the Asian Markets performed last night: HONG KONG - UP 161(1.55%) KOREA - UP 1.2(.3%) JAPAN - DOWN 27.4(-.18%) +++++++ OPENED AT 14830 +++++++ CLOSED AT 14775 +++++++ LOW AT 14488 +++++++ HIGH AT 14853 As previously indicated, it appeared that N225 was to perform a TECHNICAL DELAYED DIP(DOUBLE BOTTOM). On the intraday basis it did drop below the previous bottom of 14569, but closed 287 points(2%) higher than the intraday bottom. The CANDLESTICK pattern will be close to a BLACK HAMMER, but will have just a slight upside shadow. A true HAMMER would not have an upside shadow. A HAMMER under such conditions is a strong reversal signal. Just hope the media will indicate that the Japan market was substantially off its lows and not just say that it was down slightly. If I am correct with my TECHNICAL DELAYED DIP on the N225 then it should continue up and surpass the previous peak in a few days(1-5). Do not believe that last night's performance of the Asian markets should have any substantial negative impact on our market today, and it should be taken as a slight postitive, but one never knows. Happy trading. Donald

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