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Strategies & Market Trends : Tech Stock Options

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To: donald sew who wrote (35132)	2/17/1998 11:15:00 PM
From: Patrick Slevin	Read Replies (1) of 58727

I do not have my data screens up right now, There is a minor software glitch where Globex fouls up my OHLC data reads. This shall be taken care of, I hope, when a Gateway I just ordered comes in. I will have a system that I may be able to develop a scheme so that I may be able to have the two machines "cross check" each other. Anyway, as I am doing this from memory, I believe it was during 1990 or 1991 when the last time a market (S&P futures) had a series of 15 daily upticks without a retracement through a 8 DMA. The decline shortly afterwards was brief but sharp as I recall (not that I was watching...I just remember a discussion I was involved in on the topic). Again I would have to refer to the data. As I recall, last Thursday was the 13th uptick to a new high, Friday it came back a bit, and then today (the 15th tick) went higher still than Thursday. I'm not saying a break is imminent, just that the last time this pattern occurred (7 or 8 years ago) there was a sudden break shortly after.

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