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Strategies & Market Trends : Tech Stock Options

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To: ViperChick Secret Agent 006.9 who wrote (51198)	8/31/1998 12:14:00 PM
From: donald sew	Read Replies (1) of 58727

INDEX UPDATE ------------------- Dont need to say how bad the market looks. For those looking to enter PUTs, I am not so sure that today is the best day implying that todays lows may be the short-term bottom, where ever that darn intraday low is. I will still expect some sort of a bounce, but again it should be small, maybe just 50-100 points off the lows and only intraday. This convincing break of 8000 is a strong confirmation of LOWER LOWS in the near future. The latest reading on UP-MO was .75, so the up-momentum does have some strength, and I feel we should bounce. The VIX appears to form a double top today when it hit 45 range again and now is in a bullish trend (heading down). I think todays lows will be the bottome and the rebound to start anywhere from there. Will try to set new targets as possible buy-in points to obtain PUTs. Seeya Seeya

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