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Strategies & Market Trends : Tech Stock Options

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To: donald sew who wrote (53884)	10/2/1998 1:32:00 AM
From: HiSpeed	Read Replies (2) of 58727

<HiSpeed, I also the the upside trendline at around 8250, close enough. The highest resistance I have is 8350, before I would need to change my position somewhat. Still in a trading range.> Don, in hindsight the market did top out around 8250 on the 28-29th! We made a good call! ( Message 5841915 ) Where do we go from here? Looks like there is strong support around 7470 +/-50....if that breaks I do not see another support level. If we could get a strong down day on high volume as a shakeout I think that would be a good entry point -- for a trade anyway. JMO FWIW Another pattern I see: bigcharts.com (but change time frame to 3 months) involves a trading range for the first third of Aug (starting 2-3rd day) which breaks to the down side a few days before the 1st of Sept. Then we have another trading range (rising wedge?) that slowly ticks up for all of Sept and breaks to the down side Oct 1st.

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