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Strategies & Market Trends : Tech Stock Options
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To: Patrick Slevin who wrote (41024)4/23/1998 3:32:00 PM
From: donald sew  Read Replies (2) of 58727
 
Patrick,

The KEY so far today is the blow-off top in just the NAZ. Its down 30 points right now. If we get a intraday rally tomorrow it should be sold into. Using the 5:1 ratio, the NAZ is down about 155 DOW points.

I ahve to admit that the runup in the NAZ earlier this week had me confused, but with today's action it is really showing weakness. I now feel that any attempt on buying on thhe dip will be fruitless.

Also the interest rates are almost at 6%, so a put play on the BANKS may also be reasonable.

Seeya
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