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Strategies & Market Trends : Tech Stock Options
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To: Dom B. who wrote (45699)6/12/1998 4:16:00 PM
From: donald sew  Read Replies (1) of 58727
 
INDEX UPDATE
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The DOW had a big bounce up, but I would be very cautious of climbing on board on the long side at these levels (flat).

Just talking my short-term technicals, since we may close flat or close to it, even if it is slightly negative it will push my technicals up into the mid to lower-mid range. Last night my technicals just touched the oversold line (20).

Not to be confusing - since the market rebounded strongly my short-term technicals will actually be higher than they were last night.

Whenever the technicals are in the mid-range the market is susceptable to news and can go either way, so since the technicals are now in the mid range the downside is still large with a downside bias.

A key to watch is the increasing number of new lows.
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