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Strategies & Market Trends : Tech Stock Options

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To: HiSpeed who wrote (52670)	9/15/1998 1:50:00 PM
From: donald sew	Read Replies (3) of 58727

For those playing PUTs, As long as we stay below yesterday's highs of 8039, the upcoming pullback is still intact. Just for info sake, if the DOW gets to 8039 and fails it will indicate a DOUBLE TOP formation with is also a strong reversal signal. Frankly the DOW needs to break the 8039 resistance convincingly, say by 50 points to really call the pullback off/delay it. Also keep in mind that the main resistance is 8095, but a strong break of 8039 to the upside would negate the HEAD & shoulders. We also have to keep in mind that this is expiration week and if there are alot of PUTS, then it would benifit the big boys to artificially push the market up. Seeya

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