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Strategies & Market Trends : Tech Stock Options
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To: ViperChick Secret Agent 006.9 who wrote (50589)8/24/1998 12:54:00 PM
From: donald sew  Read Replies (1) of 58727
 
INDEX UPDATE - INTRADAY
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I guess that many will not argue that there is weakness intraday with about a 100 decline off the highs so far.

UP-MO and DOWN-MO is about even, which implies that we may close flat(plus or minus 30 DOW points).

It appears that 8600 STAIR-STEP is a very strong resistance line and may have been the high point before the next decline, which should occur near Thur.

I feel if we get back to the 8600 area agin, that would be the time to initiate PUTs.

I do feel that the following decline will at least test the 8300 support range, and most likely should break it. I am not yet calling for a break of 8000, at least not untill we break 8300, if it does.

Seeya
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