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Strategies & Market Trends : Tech Stock Options
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To: SE who wrote (40552)4/21/1998 12:54:00 PM
From: Patrick Slevin  Read Replies (2) of 58727
 
Heh.

Best guess is up. The bearish tone in the media et al implied to me a bullish day.

But the 2 key points are, I think, another penetration of the 1132, 33 barrier on the SP8M to get it rolling. Otherwise, a break of 1125 will see people sending it in. 1125 was yesterday's low.

But the pattern appears to be proving out with the early selloff and then the rally. Now I think it has to hold the recent low of this reversal, which is at 1128, even.

It's lunchtime in Chicago, so anything can happen. But the big moves should be going into 2 ET and the bond close as usual.

We also have to be careful of a break in the bond, I think. The whole currency and bond issue is always a threat.
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