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Strategies & Market Trends : Tech Stock Options

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To: randy kay who wrote (32887)	1/12/1998 1:15:00 PM
From: donald sew	Read Replies (1) of 58727

Randy, The mid-term trend is definitely on the downside. If you recall, last week i indicated that the market was overbought and many of the indexes were CLASS 1 SELLS. When we were in an uptrend and got a CLASS 1 SELL, they still worked but were only good of 100-250 points on the DOW. On this last CLASS 1 SELL, it was good for over 600 points. Ok, Today was a CLASS 1 BUY at the low of the day which was about a negative 130. So far my CLASS 1 BUY worked and it has rebounded up about 170 points on the DOW in light of the devastation in the Asian markets. However, how much higher will this rebound take us. We are in a downtrend and no one should discount that. Will this CLASS 1 buy be of the same size as the CLASS 1 SELLS I had when the market was in an uptrend (100-250 points). As you know I really do not follow stocks, but I would say that of course one can still find pockets of strength but all should take caution and not expect a huge rise as we got in the past. I would have to say that all should lower their expectations Frankly, I do not think RANDU made a mistake.

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