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Strategies & Market Trends : Tech Stock Options
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To: donald sew who wrote (35383)2/23/1998 11:31:00 AM
From: Patrick Slevin  Read Replies (1) of 58727
 
<It is not that unlikely that this type of weakness could continue for 1-2 more day, and I am not
talking about any huge decline, then towards the end of the week (Thur/Fri), back up and it could
be quite strong to the upside.>

I don't know, perhaps you are right. I'm (primarily) sticking to the short side. This is, of course, easier for me using futures than it would be an options player. With small exceptions likely here and there I think the market will not be as powerful as you do.

For a third viewpoint, the oscillator of McMillan's (you know, the one I never looked up the formulae for?) shows that if we get more Declines than Advances today (unlikely, in my view) the reco is to buy OEX puts. McMillan's bread-and-butter calls over the past few years has been OEX losing on just one trade out of perhaps a dozen.
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