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Strategies & Market Trends : Tech Stock Options
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To: joe smith who wrote (37196)3/23/1998 4:55:00 PM
From: Patrick Slevin  Read Replies (1) of 58727
 
My WAG is 180 degrees off yours, but I think it is too early to spec on a reasonable decline.

My guess is it hits the high around 10 ET and the low between 2 and 3:15.

But it really makes no difference, as the market needs support from not only the techs but from the financials , the oils, and so many other sectors.

As of this moment it makes no difference to me because I am flat but it appears that the market is a tad overbought. This situation may last for a long period of time. However, my short-term thought is for a down day tomorrow.

Why?

Well, it's very rare to have so many "up" days in a a row, Okay, today was not a killer but we had two big days last week, Friday and Thursday with Record Closes. There were 5 "up" days in a row.

So, I'm just going with stats....it's very unusual to get this kind of run and I'm betting it slows.

So my WAG is lower.
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