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Strategies & Market Trends : Tech Stock Options
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To: Gersh Avery who wrote (49716)8/12/1998 9:35:00 AM
From: donald sew  Read Replies (4) of 58727
 
INDEX UPDATE
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The futures, before the open are up nicely. My short-term technicals are smack in the middle still. If you recall I had indicated that they were in the middle the day before. With all this volitility, and the DOW and SPX setting lower lows intraday, my short-term technicals are still in the middle. What that implies is that if we move up over the next few days, technically we are still in the same upswing that was started last Wed. Just a tidbit, implying strong volitility.

If we do start to move up and it is sustained, then my short-term technicals will get overbought and become a CLASS SELL within 3-4 days. If we do not exceed 8850 such would confirm that we are still in a LOWER HIGH/LOWER LOW trend.

The next short-term top should arrive Friday/Monday and if we get back to the 8685-8750 range, maximum 8850 then another pullback should start and we should retest the 8350 range again.

Seeya

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