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Strategies & Market Trends : Tech Stock Options

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To: ViperChick Secret Agent 006.9 who wrote (51499)	9/4/1998 8:03:00 AM
From: donald sew	Read Replies (1) of 58727

INDEX UPDATE -------------------------- I previously indicated that today could be possibly a big down day, however the futures are up 7-8 points, indicating that there will be a pop in the morning if the futures stay there. Unless we surpass WED's highs(7952), that would indicate that it was the short-term top and the downside will continue. If we stay below yesterdays highs and above yesterdays lows, the DOW will be forming a PENNANT. PENNANT normally take the direction of the the trend, which at this time is DOWN. Also important for us impatient PUT players is that PENNANTs normally do not last long. If we do stay within such parameters, today will be the 4th or 5th day of the PENNANT. The following URL has a good explaining of PENNANTs: chartpatterns.com As I am writing this post the futures dropped from the 7-8 range to 80cents. Seeya

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