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Strategies & Market Trends : Tech Stock Options
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To: ratan lal who wrote (40405)4/20/1998 12:24:00 PM
From: donald sew  Read Replies (3) of 58727
 
Ratan

The DOW increased its decline being down 43 points and the NAZ still up 20. Using the 5:1 ratio the NAZ is up 100 DOW points, so the total divergence is about 140 DOW points.

Until this rally started in JAN, such large divergences did not occur. In most cases previously, the most was 100 DOW points.

There are 3 possibilbities I can think of:

1) the DOW pulls the NAZ down
2) the NAZ pulls the DOW up
3) the NAZ moves down some/flat and the DOW moves up some reducing the size of the divergence

What I noticed also was that the SOX is up very strong, so money is just rotating to value areas with little regard to fundamentals.

Unless there is more pulling back this afternoon, I see this market maybe moving up 1-2 days more before some sort of dip occurs.

Seeya
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