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Strategies & Market Trends : Tech Stock Options
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To: donald sew who wrote (33312)1/16/1998 10:02:00 PM
From: ViperChick Secret Agent 006.9  Read Replies (1) of 58727
 
Don

from you in response to a post from kevin (btw, we got the breakout today that Kevin was talking about) question....does the movement thursday constitute a rubberband like movement ...only in the oppposite direction....(down not up though as we were down thursday)

" You are absolutely correct. I would like to add the point that it also depends where
the overall technicals are, and right now they are in the upper mid-range. If the
small-range trading happens when the technicals are in the overbought region, then its
a clue that it is topping off and a pull-back forthcoming. But since we are still in the
mid-range and the bias is slightly to the upside, then that is a sign that we could move
up nicely in the near future, and as soon as later this afternoon.

The only negative I see right now to hold that back is the divergence of the DOW
from the NAZ. But if the NAZ holds, we could get a guitar string effect(like a rubber
band) as soon as this afternoon in the DOW."

To: +donald sew (33307 )
From: +Kevin
Thursday, Jan 15 1998 1:52PM EST
Reply # of 33450

Hey Don. You're probably one of the biggest tecnicians I know. Doesn;t it mean
something when we trade within yesterday's range all day today...like a breakout
tomorrow?

SPX traded b/t 948 & 958.12 yesterday
today it's trade b/t 951.28 & 957.94.

Any thoughts?
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