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Strategies & Market Trends : Tech Stock Options

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To: Billy Bob who wrote (48748)	7/28/1998 10:39:00 PM
From: Dwight E. Karlsen	Read Replies (1) of 58727

Cossack, it's always painful to pay the bills, isn't it? FYI, the Morgan Stanley Hi-tech 35 index is still up well over 30% for 1998, if I remember correctly. Techs are by no means cheap, or even close to the 100dma yet, much less the 200dma. In genuine "corrections" you'll see the indexes going below their 100dma, touching and sometimes dropping below their 200dma. We're still not anyplace near oversold in the corrective sense. Are you aware that the S&P 500 companies have posted y/y gains of less than 2% in the first and second (2nd is estimated based on those companies which have so far reported) quarters of 1998? Not that earnings matter anymore, but I'm still an old-fashioned guy regarding some things.

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