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Strategies & Market Trends : Tech Stock Options

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To: jjs_ynot who wrote (51273)	8/31/1998 10:42:00 PM
From: donald sew	Read Replies (2) of 58727

INDEX UPDATE ---------------------------- I have done a bit of research, and feel that the DOW could run rally 200-400 points over the next few days. I am still calling for the top of this short-term upswing by THUR/FRI, and could be as early as WED. Then another substantial pullback could start again. If the DOW does not run up 200-400, still feel that at least it will remain flat for the next 2days, just do not see the sell off continuing tomorrow. My GUITAR is at levels never seen before and had to recheck it several times - extremely oversold. Yes, I am also reluctant to put too much in my indicators right now, but if I am interpreting them correctily, it is saying rebound. My GUITAR, different than my short-term technicals, is still calling for SEPT 3 top. Correct me if I am wrong but it was my understanding that the SPX had a PE of around 28 when the DOW was in the 9300 range. So if the PE was to drop to 20 then mathematically the DOW should be around 6650[X=(20*9300)/28]. Granted I did not consider changes inactual earnings and other factors. Seeya

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