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Strategies & Market Trends : Tech Stock Options
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To: Patrick Slevin who wrote (35670)2/27/1998 1:23:00 PM
From: donald sew  Read Replies (2) of 58727
 
Patrick,

Also, the NEW HIGHS/NEW LOWS ratio is declining. In a hot market it appears that that the a price decline lags the decline in the NEW HIGHS/NEW LO ration by about 10 days. So I am holding to the position that the market will top out during the 2nd week of MAR.

Just heard on CNBC that the BULLS are saying that the bears have been calling for a pullback for the next 2 months, and basicly that their focus is now 1999, not 1998. CNBC gave me the impression that the bulls were discounting the Asian Flu to a certain degree. They admit that it would hurt some companies, but not the overall market.

That sounds to me like strong euphoria. There will be some technical pullbacks starting soon which are more substantial than just 100-200 DOW points. I think the latest a strong pullback could start is mid April/early MAY, with the 1st possibility being mid-Mar/early April.

Seeya
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