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Strategies & Market Trends : Tech Stock Options
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To: Darth Trader who wrote (43796)5/22/1998 4:55:00 PM
From: donald sew  Read Replies (4) of 58727
 
INDEX UPDATE
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I would like to concentrate on the discussion of only TRIANGLEs, since I strongly feel this is now the key issue.

TRIANGLES are normally formed awaiting news/fundamental items in the market. After the apex is formed - if the issues are bad, it dumps and if the issues are good it surges to the upside.

We have TRIANGLES in the DOW, SPX, OEX. We had a TRIANGLE in the NAZ and over the last few days it dumped substantially.

As I indicated before the direction after the APEX of the TRIANGLE is a fundamental issue not a technical issue. I believe that for the main fundamental issue is if interest rates can stay below 6%.

For those who follows JERRY FAVORS, he also pointed out the TRIANGLES on CNBC today. He had mentioned that the next wave could take us to the 9400 range, which could be the blow-off top many are looking for.

OK - my question is will the fundamental issues be good or bad in the short-term. Since I am not a fundamentalist would like to here any comments.

Just one fundamental issue - the price of CRUDE is getting low again and is at the level where it could pop up, which would hurt most of the market since it could push interest rates up.

Hope we can get some discussion on this issue.

Seeya
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