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Strategies & Market Trends : Tech Stock Options

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To: ViperChick Secret Agent 006.9 who wrote (47303)	7/6/1998 8:30:00 AM
From: donald sew	Read Replies (1) of 58727

INDEX UPDATE ----------------------- As indicated earlier, the short-term technicals were in CLASS SELL status on Friday and since the technicals are still high in the overbought region for the non-Hitechs the overall market should continue its pullback which started on Friday. If the market does not weaken today or tomorrow, specificly these 2 days, I will take that as a clue that we will head up strong very soon. If the market does weaken, support lines on the way down should be watched carefully. For the time being 8750 is the strong support and there is a weak support around 8900. If the 8900 support holds then the trading range will just move up, but we should still be in a trading range. Watch the market internals for clues. Frankly, I feel that we will head to below 8900 and could approach 8750, soon. This is not a negative for the market since it will still indicate HIGHER LOWS. Lisa, sorry dont think I will be on line much today to be of much help. Enjoy yr day by the lake and you wont be able to see my girlfriend Maria. ggggggggg Seeya

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