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Strategies & Market Trends : Tech Stock Options

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To: ViperChick Secret Agent 006.9 who wrote (47185)	7/1/1998 3:50:00 PM
From: donald sew	Read Replies (2) of 58727

INDEX UPDATE - INTRADAY ------------------------------ The market internals improved thru-out the day and we are still near the highs of the day. However the RUT is only up slightly, not as it was yesterday, so there is still some weakness from the smaller issues but that can change at any time. The media is pushing the JULY 4 holiday rally and so far it looks like its taking shape. Guess we have to wait for the news from ASIA to see if we continue this holiday rally into tomorrow. My analysis now is strongly dependent on the market internals, and they do appear to be improving. There will still be a pullback on a short-term basis, but it is starting to appear that it is moving in the direction of HIGHER HIGHS/LOWS, not LOWER HIGHS/LOWS. Not great news for PUTS at this time, so lets see how ASIA turns out. Unless the market internals return to poor levels, I will not be initiating anymore new puts, and will wait for the next dip, which should occur next week, to go long. Still strongly dependent on the market internals to determine my position. Seeya Seeya

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