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Strategies & Market Trends : Tech Stock Options

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To: ratan lal who wrote (43224)	5/14/1998 11:40:00 AM
From: donald sew	Read Replies (2) of 58727

INDEX UPDATE - INTRADAY ------------------------- The strong rally back up from negative 94 on the DOW is narrow/weak. The DECLINES still outnumber the ADVANCES so far, and the NEW HIGH/NEW LOWS are still very low. As indicated before, today was a CLASS 2 BUY at the high of the day, which again means that it can still move up a bit more. Talking candlesticks if the DOW closes here, up 4 it will form a DRAGONFLY DOJI which is a strong reversal signal to the downside. This rally from negative 94 will, most likely fool many into thinking that we are heading up strong. Dont get me wrong we could still move up more(maybe even 1 more day), but this immediate short-term rally is very close to being over and it should be at today's highs, latest tomorrow(at that time it would be a CLASS 1 SELL). I will be initiating JUNE PUTS, and hopefully I can nail today's highs. Seeya

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