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Strategies & Market Trends : Tech Stock Options

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To: joe smith who wrote (44711)	6/3/1998 11:32:00 PM
From: Patrick Slevin	Read Replies (3) of 58727

Joe, I don't think you want to play the bounce...for what it's worth. The only way to play this is for a selldown. The long side is very risky, I think. When you speak of buying power I get nervous, because the buying these days is transitory I think. The selling power is far greater. I hope you get your bounce to short.....Globex is up 370 points....but my thinking is lower highs, lower lows.....I think the play is to stay bearish from a trader's point of view. That is to say, "don't get long.....and sell whenever it breaks down" The AM should see a bounce but the smart money will sell it, I think.

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