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Strategies & Market Trends : Tech Stock Options
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To: Tom Trader who wrote (40803)4/22/1998 1:21:00 PM
From: Patrick Slevin  Read Replies (1) of 58727
 
My early guess was 1130...I raised it only because of the action predominating on the high side of the 1130s.

It almost seems as if people are very concerned about everything...bonds, the buck, the Nikkei....so concerned the market is not allowed to have a normal easing off.

So I think the anxiety factor will contribute to a sharp move down as the low end of the 1130 range is approached (if it is approached.)

If you look at an intraday chart from yesterday, once 1132 was hit on the slide down from the early highs it hesitated for a few minutes and then went straight to 1128.

Personally, breaking like that again I would expect 1120 this time.

A break there would see 1105.

But of course, this is just idle speculation.
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