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Strategies & Market Trends : Tech Stock Options

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To: joe smith who wrote (46241)	6/18/1998 10:03:00 AM
From: donald sew	Read Replies (1) of 58727

INDEX UPDATE ------------------------ As mentioned previously the top of this upswing should find its top either today or Friday. We are now about 30 minutes into trading and the market is flat. Taking a CANDLESTICK viewpoint, if the market remains flat or slightly down for the day, that would create a BEARISH HARAMI which is a relatively strong reversal signal. If the market does move up today then per the candles indicate that yesterday's highs should be the limit for this upswing. Many of the HiTECH indexes got CANDLESTIC reversal signals: INVERTED HAMMER - MSH, NDX, XCI, CWX SHOOTING STARS - COMP, IIX Due to being expiration week feel that today would not OK to start to initiate JULY puts in small amounts. Just would not initiate a large position today due expiration. Feel the best senerio is that we close up slightly positive today and tomorrow continues up intraday, to initate the puts. If we can stay positive today, even slightly, and up intraday tomorrow then the sell signals will intensify. If that does happen the pullback should start MON and could be as early as tomorrow afternoon. Seeya

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