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Strategies & Market Trends : Tech Stock Options
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To: Nemer who wrote (49869)8/14/1998 11:26:00 AM
From: donald sew  Read Replies (1) of 58727
 
NEMER,

The TICK is only in the positive 100-200 range, but the DOW is up in the 75 range. If the the tick was to move up dramatically, say to the positive 800-1000 range and the UP-MO remains same strength level we could have an explosive day to the upside. Please keep in mind that the the TICK-MOMENTUM can change on the dime and we could also see strong negativity, so at this time I am not yet predicting how we will close - not just yet

Getting back to my STAIR-STEP THEORY, as long as we do not cross 8600 to the upside it is still intact. The DOW got as high as UP-94 so far; therefore today's high is still near the 8600 base.

I though about this STAIR-STEP THEORY some more, and feel it is similar to TRIANGULATION in the sense that it should produce a surge in once it ends. Keep in mind that the surge could be in either direction, but at this time I feel the direction is down. What is not similar with TRIANGULATION is that the intraday swings are not reducing, but remaining very volitile which makes this pattern abnormal. So I am coming to a conclusion that this STAIR-STEP is actually TRIANGULATION. The focal point being 8600, which would equate to the APEX of a normal TRIANGLE.

Please keep in mind that I only came up with this STAIR-STEP-THEORY a few days ago.

Does this make any sense - would like to hear any comments.
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