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Strategies & Market Trends : Tech Stock Options

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To: HiSpeed who wrote (54880)	10/7/1998 8:18:00 AM
From: donald sew	Read Replies (2) of 58727

INDEX UPDATE ----------------------- Asia was up strong with JAPAN up huge. Europe was up strong at the open but has since gone negative. What Im suspecting is that the recent bounce in the international markets were simply technical bounces. Unless there is great news immediately, to keep/push them up, they should start to come back down to retest their recent lows in the next few days. I am estimating that the major international markets should start their retest of their lows within 1-5 days. Such timing also fits with the start of start of the forthcoming decline of our market within the period of OCT 7-13. Our market weaknesses are obvious and already discussed in earlier posts, so wont go into detail again. The futures were up 19 overnight and got as low as 4 within the last 30 minutes. I guess one can interpret that as another sign of weakness, although one must remember that future trading is light and may not be a good indication of day at times. No change to my MINI-STAIRSTEP and the start of the decline period of OCT 7-13. We could still have another test, or even 2, of the upper limits of the MINI-STAIRSTEP(7900-7500). Also we could break to the downside immediately since today is OCT 7. Seeya

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