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Strategies & Market Trends : Tech Stock Options

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To: HiSpeed who wrote (52587)	9/14/1998 6:47:00 PM
From: donald sew	Read Replies (3) of 58727

INDEX UPDATE ------------------------- The DOW closed about 95 points off its highs, which appears to be the beginning on the next downtrend. I entered another PUT position when the DOW was up about 220. Tomorrow morning, we could see another attempt at today's highs, but it should fail and we could see some heavy selling starting tomorrow or Wed. Not that the NEW HIGHs/NEW lows did not improve, but did not feel it was good enough to maintain a 245 point run on the DOW. It is quite possible for us to see a retest of 7500 by WED/THUR, and not to scare some I would not be surprised if we saw a retest of 7500 tomorrow, but the liklihood is WED/THUR. If 7500 does not hold it would imply that 7400 will also not hold in the near future if not right away. Seeya

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