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Strategies & Market Trends : Tech Stock Options

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To: Patrick Slevin who wrote (46615)	6/23/1998 11:56:00 AM
From: WBendus	Read Replies (2) of 58727

The external news I think you're looking for is developing in the JYU8 contract. The dollar is heading north and looks like it will attempt to fill the gap created by intervention. I am surprised that the DOW is so strong. The news for MSFT is not fundamentally exciting. The NAZ has moved too far too fast, rallying over 100 points from the lows set 6 days ago. The biggest driver in this market is going to continue to be the YEN, and that driver, for now, remains decidedly negative. Hashimoto just can not seem to figure out that what the YEN needs is a big, and permanent, tax break to jump start the Japanese economy. I look for the DOW and the NAZ to sell off this afternoon, as investors look for the next court ruling to push the market higher. OPEC may offer a little support to the oil stocks over the next couple of days, but that too will not sustain any rally if the YEN continues to decline. Wayde.

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