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Strategies & Market Trends : Tech Stock Options
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To: kiwi who wrote (32265)1/5/1998 7:54:00 PM
From: donald sew   of 58727
 
INDEX UPDATE
----------------------------

The market is now overbought and there are CLASS 1 SELLS in many of the indexes. For the candlestic watchers, the majority of the indexes had either DOJI's or SPINNING TOPS. Since so many of the indexes had these candlestic formation, the likihood is that some sort of pullback could start tomorrow; in certain indexes it started today.

I have narrowed my choice of INDEX to play PUTS on to the DJX, NDX, SOX(would like to have the SOX back in the 285-290 range.

The NAZ was much stronger than the DOW, so the best senerio is for the the NAZ to pull up the DOW tomorrow into the 8000-8050 range, and at that point to initiate the PUT.

As to how big of a pull-back, my initial feeling is that it will not be large, maybe 100-200 DOW points.
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