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Strategies & Market Trends : Tech Stock Options
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To: The Perfect Hedge who wrote (51785)9/8/1998 11:34:00 AM
From: donald sew  Read Replies (3) of 58727
 
Beeble,

I had previously indicated that the intraday highs of SEPT 2(7952) was the immediate short-term top. Even with the huge 300 point runup today the intraday highs were 7946. Now the question is whether we formed a DOUBLE TOP, which would imply that we head down again off of today's highs.

If 7952 is broken convincingly, that the next strong resistance is actually at 8095 on a techincal basis; however 8000 will be a strong psychological resistance since it is a century and a "THOUSAND" mark.

I think I will be adding to my PUTS, just have to get a good price for a spread.

Seeya
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