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Strategies & Market Trends : Tech Stock Options
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To: George Mc Geary who wrote (34348)1/28/1998 1:27:00 PM
From: donald sew  Read Replies (2) of 58727
 
George,

Even before the news on the split of MSFT, I noticed the strength of the NAZ last week. Technically, I just believe that the NAZ may have started its uptrend.One can definitely say that such is due to the overall good news for the sector. I tried shorting the NDX last week at 1028 and it got as low as around 1015. When the NDX is a CLASS 1 SELL it normally drops 25-40 points, not 15. I am concluding that the strength is actually in the NAZ for the time-being. I would not short the NAZ in the forthcoming pullback.

If I was to short anything, I may short the Banks, Brokers, Airlines once they get back to a CLASS 1 SELL status.

I just dont think the downside will be much. The NAZ may only pull back 20-40 points over a few days, which is nothing compared to previous declines.
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