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Strategies & Market Trends : Tech Stock Options

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To: Chris who wrote (43770)	5/22/1998 10:30:00 AM
From: donald sew	Read Replies (3) of 58727

Chris, >>>>> * NAZ breaking 50 day ema ** <<<<< Yep, I got the 50 DMA at about 1825. As the day is going on the NAZ is going down even further. The closest support line for the NAZ is at 1804, which is an important one, and intraday it has broke thru it already. The next support line is at 1786/1788. Per my short-term technicals the NAZ will be severely oversold, and could pop up very slightly, in the near future, establishing a LOWER HIGH, and then followed by lower lows. It does not look too good. In light of the weakness in the NAZ, it will definitely weaken the overall market and the effect of sector rotation will also decrease. Seeya

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