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Strategies & Market Trends : Tech Stock Options

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To: Electric who wrote (34251)	1/28/1998 9:44:00 AM
From: Kevin	Read Replies (3) of 58727

>>>Let me know if you see a move in, I might firm up my position even though averaging down usually isnt prudent. I am sweating, Dow up 80 and IBM down... :{ <<< Good morning E. Here's what I see with IBM currently: ---closed below 200 DMA (which is 97 7/32) ---closed below 20-day Bollinger band (which is 96.59) The 20-day BB doesn't bother me near as much as the 200 DMA. I actually 'trust' the 50-day Bollinger much more (using a 2.5 stan dev). This number is @ 93.80 But like I said, the close below the 200 DMA is troublesome. I think we need a surge and close above that level today or this stock will be stuck below $100 for awhile...possibly until next earnings. ---I don't use Fib much, but it looks like the retracement could bring it back down to mid-94 Block MF has started to come out over the last few trading days. Short term indication is now below $100. On the Bloomberg, type IBM <Equity> GM B <Go> and use this date range: 01/20/98-01/27/98 to see what I am referring to. Not sure if any of this is useful, but it looks to me that IBM's new range will be in the 90s and the 100s won't be visited again any time soon. If you see something different, I'd love to hear it.

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