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Strategies & Market Trends : Tech Stock Options

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To: Barbara Barry who wrote (42393)	5/6/1998 4:18:00 PM
From: Patrick Slevin	Read Replies (2) of 58727

I know I'm a jerk. I have had such an incredible good day I am getting carried away. But....here's my theory. The deal is, weak numbers on Friday will lend a false sense of security to the bull camp. This will be responded to with light volume on a run-up. Setting the stage for a falloff on Monday. Alternatively, the presence of strong numbers on Friday will crack the bond and send the futures to 1040 Just a wild guess. I see the futures are fighting the probable low of 1107 right now. A number I thought would hold until Friday. The concept of buying a dip to 1085 on the futures I think is doomed to failure. I imagine a bounce should transpire from there. But I think it would be unwise to use that level as presumed support, as the rules have changed........to use the vernacular of the "buy the dip" crowd.

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