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Strategies & Market Trends : Tech Stock Options
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To: Barbara Barry who wrote (48244)7/22/1998 8:14:00 PM
From: donald sew  Read Replies (2) of 58727
 
Barbera,

>>>>>>> I don't think "it's" over yet so I threw out a bid of 4 1/2 on the oex 580 calls for August.Don't think I'll get filled but it's worth a shot.<<<<<<

I think you have the right idea, but it will require being nimble. If you recall my previous prediction, I felt that an upswing should start in the middle of the week.

However, I do believe it should be the last upswing before a corrective phase starts again. What is scarey is the NEW HIGH/LOWs. Major reversal to the negative side today. Only 34 new highs and 174 new lows.

There is still helium and hydrogen in the market so I still believe one more upswing, but the NEW HIGH/LOW indicator I use is pretty accurate as a leading indicator. It leads the changing of the trend anywhere from a few days to 15 days. If I recall correctly it lead the OCT dump about 7-10 days. Dont remember exactly.

Seeya
Regards,
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