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Strategies & Market Trends : Tech Stock Options

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To: Electric who wrote (49703)	8/11/1998 8:32:00 PM
From: donald sew	Read Replies (2) of 58727

INDEX UPDATE ------------------------------- On a purely technical/mathematical basis today produced a LOWER LOW. I realise many will argue that it has to be on a closing basis, well lets just say that per my system it counts. Right now my short-term technicals are in the middle still and as I always say when its in the middle it is the most susceptible to news/fundamental changese. The bias is also to the downside. I realise that some may feel that the rebound off todays lows put a halt to the decline; however after checking the market internals todays late day rally was weak. After the OCT crash many individuals were lining up to buy stocks at the brokerage houses, but now is not the same. Some are saying that the recent interim is really the result of institutional trading. Originally I had indicated that we should start to rebound AUG 17-18 is the 8362 support held. It did not hold so the timing now has to be reassessed. We could possibly see a retest of 8360 again within days. Seeya

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