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Strategies & Market Trends : Tech Stock Options
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To: ratan lal who wrote (47042)6/29/1998 2:32:00 PM
From: donald sew  Read Replies (1) of 58727
 
Ratan,

My position really has not changed much.

Last week I had indicated that the strong resistance line would be around 9075 for this specific short-term up swing, and for now I am still sticking to it.

I did indicate that we could see down movement into Mon, then up TUE/WED. Also keep in mind that my analysis is more based on time than price.

What I am saying is that the market should top out WED/THU and once the pullback starts the initial drop will be strong in the 100-200 range over the period of 1-2 days. that would be the beginning of the pullback with the support at 8500-8550.

Please keep in mind that such analysis is based on weakening market internals. If they dont weaken then its higher highs.

Hope I clarified it
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