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Strategies & Market Trends : Tech Stock Options

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To: donald sew who wrote (33887)	1/23/1998 2:52:00 AM
From: The Jedi	Read Replies (3) of 58727

Saw your post on the OSX. Technically, the OSX is just in the mid-range and can fall more. I realise that I had previously indicated that the 105 support should hold, but it was obvious that the news today on the earnings was interpreted extremely bad, whether justifiable or not. As I always said, fundamentals/news over-ride technicals. Don first I think the anticipation of news overides technicals, not the news itself. I have seen too often that even with good news stocks tank and bad news they rise. So it is the anticipation that drives them, not the news itself. As for the OSX it is technically in a downtrend and by P&F, candles or simple moving averages. The main driving force has been the price of crude oil and as long as that is in downtrend going toward 14 (expect a blowout selloff then) OSX does not stand a chance of going north. Kiri

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