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Strategies & Market Trends : Tech Stock Options
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To: mozek who wrote (36212)3/6/1998 3:17:00 PM
From: donald sew  Read Replies (1) of 58727
 
Mike,

As I have stated several times in the past that my system is mainly based on time not price, so price will not change my position.

If you recall, my original posistion was for the pullback to start MAR 11-13, then I upped it to yesterday and today. Keep in mind that we are now only about 30 points higher than Wednesday's close, so we are still relatively flat.

However, it is of interest how the market shrugged off the INTC and MOT news. I will stick to my position of flatness till MAR 11-13.

Assuming that the SOX will not be able to surpass its last peak at 330 prior to expiration, and we do dip it will signal one important lower high. On the other hand if the SPX continues up it will negate that and more. So far the only new high is the RLX(retail group). As indexes approach their recent highs but do not surpass it forming a DOUBLE-TOP, then this pullback is still intact.

Seeya
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