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Strategies & Market Trends : Tech Stock Options

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To: Gersh Avery who wrote (55670)	10/16/1998 10:36:00 AM
From: donald sew	Read Replies (2) of 58727

INDEX UPDATE - INTRADAY ---------------------------- Todays rally is stronger than most that we have seen lately, but is still not that strong. The NEW HIGHS is at 30 and NEW LOWS at 19. This is a significant improvement that the new highs is greater than the new lows, but the NEW HIGHS is only at 30 so far. Keep in mind that we have retraced 50% of the decline(9369-7401). Also when the DOW was around 8000 in SEPT the new highs were over 100. The NAZ is not as energenic as the DOW to the upside, so divergences are starting. Im not say that there will be a big selloff now, just that we may be in the process of topping off for the short-term. seeya

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