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Strategies & Market Trends : Tech Stock Options

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To: Patrick Slevin who wrote (34482)	1/30/1998 11:15:00 AM
From: donald sew	Read Replies (1) of 58727

INDEX UPDATE - INTRADAY -------------------------------- Except for the NAZ the rest of the market has shown weakness. The divergence between the the NAZ and the DOW was larger in the morning, but the divergence has narrowed. One can interpret that the NAZ was holding the DOW up from dropping too much earlier this morning. For example the DOW was down 20 early in the morning and the NAZ was up about 7. Now the DOW is flat but the NAZ is still at about 7. This is far from conclusive, but just an example of the little things I look for on a intraday basis to determine direction. On the other hand, the DOW broke thru the previous peak which hints that it could go up further for the day. If the DOW goes no higher than break even by around 2:30 - 3:00, we should close down and there is a chance of a sell program. The XAL open up this morning when the DOW was down, and showed strength, probably in light of the good comments toward AMR. Then it went down with the DOW. As the DOW came back to break even around 11, the XAL really did not follow the DOW back up, remaining down. The XAL is showing more signs of weakness. Seeya

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