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Strategies & Market Trends : Tech Stock Options

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To: Jerry Olson who wrote (42623)	5/8/1998 9:12:00 AM
From: Patrick Slevin	Read Replies (2) of 58727

The early returns on the bond are sorta grim I'm not certain how I shall play this, I'm short from 1102.30 on the futures ... I sold at 6:55 ET on Globex ... the odds favor a bounce somewhere after the first half hour or so, but the internal read I have is for a pretty much straight line sell down to SP8M 1065. What to do, what to do. I don't know. I do believe any bounce shall be short-lived. The overall picture on a daily basis appears to be declining tops so I would be surprised to see your bullish scenario play out. So although a bounce is favored from the point of view of a poker player I don't think it would get to 1110 on the SP8M which would be around 1106.25 on the SPX.

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