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Strategies & Market Trends : Tech Stock Options

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To: George Mc Geary who wrote (44113)	5/31/1998 8:52:00 AM
From: donald sew	Read Replies (1) of 58727

George, The SOX is severely oversold per the technicals, but we all realise it is one of the weakest indexes if not the weakest. Not taking into consideration the INTEL news I would have expected a very limited pop to the upside, then to lower lows and to test the 52 week lows in the 245-250 range. Now, considering the the INTEL news, well NEWS/FUNDAMENTALs overide the technicals, so we could see continuing dumping tomorrow. The is also the possibility that the SOX could set new 52 week lows, especially if the market dumps overall. The month end rally will have some effect to the upside, but is should be limited. Seeya

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