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Strategies & Market Trends : Tech Stock Options

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To: donald sew who wrote (54851)	10/6/1998 11:05:00 PM
From: HairBall	Read Replies (1) of 58727

donald: You know I have been firmly on the side of a down trend since mid July! I have not wavered from my stance. I downloaded my End of Day data for tonight. I spent a little more time tonight looking at the Indices and less time looking for short plays. I am now noting two things that concern me regarding my stance on the downturn: One: The Dow Utilities have not confirmed this down turn. (I know lower interest rates is better for the Utilities than the other Indexes, but this is getting to be quite a divergence.) Two: My Cycle Indicators are registering extreme negative momentum readings on the Dow Transports and Russell 2000. This implies an overdue bottom of some sort. Now I am not calling for a resumption of the bull, maybe just a pause in the bear or a real bear rally! However, I am beginning to feel, if a big break to the downside is coming, it needs to do it soon! Say, within the next 10 trading days! I know I am getting ahead of my indicators with this and I always wait for the actual signal before I act! But one can after years, get a feel for what they (the indicators) most likely will signal in advance! Any day now or not...<g> BWDIK Regards, LG

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