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Strategies & Market Trends : Tech Stock Options
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To: George Mc Geary who wrote (47446)7/8/1998 5:33:00 PM
From: Patrick Slevin  Read Replies (2) of 58727
 
There is a hint of fizzle in the steak I think.

But it's tough to fight. That's why I look for the next correction to try to rally back but fail. Problems are, when will it correct and where will the rally fail?

In the meantime, in between time, ain't we got fun. A meaningful correction for a market that just keeps winding north can be a beautiful thing.

Weekly charts are spooky on the spoo, It looks like an extended breakout can occur above 1193 but a collapse would be 1109. What a range.

One indicator has completely topped out, the Williams %R, on the weekly. There is just no room at the top of the screen for it to go higher. Not that this indicator can be used to generate a sell signal, just it implies there must be a period of rest -- at least -- before further upward motion.

I'm just cautious as usual, I suppose.
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