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Strategies & Market Trends : Tech Stock Options

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To: donald sew who wrote (40438)	4/20/1998 2:35:00 PM
From: Patrick Slevin	Read Replies (1) of 58727

Although I am now short I think we have a bounce into mid-week. They ran it down hard on the futures and bounced it fast just like last Friday/Thursday. It hit 1125 for one tick and bounced to 1128.80 in less than 10 minutes. But one good sell program and I will bail out of 1/2 my short position. I have been having a rocky time of it the last two days. I have to get back to trades that take less than an hour, these larger time frames are ripping my confidence apart. I think if they can get the SPX/SP8M back to flat they continue into mid week with an attempt at new highs. If they break the low from Friday the market is cooked. In the interim, however, I get whipsawed. I imagine I should step aside until it's more obvious. I know once the market picks a direction I can make the money I lost last week back fast enough.

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