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Strategies & Market Trends : Tech Stock Options

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To: j g cordes who wrote (41770)	4/29/1998 8:58:00 AM
From: donald sew	Read Replies (1) of 58727

INDEX UPDATE ------------------------- Previously I had indicated that my technicals are starting to act whacky and losing predicability again, but this time to the downside. When such happened during the strong runup, when my technicals indicated that it should come down the market basicly continued up strong, only dipping the slightest amount. I categorize such action as a technical breakout, where the market is not doing what the technicals say it should. Well, is the opposite about to happen to the downside. My technicals are saying that the market should be moving up now with some strenght. The market showed extreme strength at yesterdays open, but gave it totally back and more. My technicals actually comfirmed that the very short-term reversal(5 days) started yesterday since many of the technicals turned to the upside. If today moves down, not up as it should, it is just some more technical hints that we may see a technical breakdown coming very soon. Right now the futures are up slightly, so we should be up slightly at the open. If it does not hold the breakdown could actually happen as fast as today, although feel it should take a bit longer. Seeya

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