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Strategies & Market Trends : Tech Stock Options

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To: dennis michael patterson who wrote (55749)10/18/1998 3:35:00 PM
From: John Sacz  Read Replies (1) of 58727
 
RE: John Murphy

"SHIFTING INTO NEUTRAL We've been bearish on stocks for sometime and still suspect that 1999 could be another down year. However, we've seen enough improvement in our short to intermediate indicators to shift us back to a neutral posture - at least through the balance of this year. We think the big-cap averages like the Dow, the S&P 500 could be moving into a trading range environment. We're expanding the upper limits of that range to 8700 for the Dow and 1100 for the S&P 500. We'll have to wait and see if the more aggressive Fed easing has the desired effect. We're skeptical, but willing to be convinced. we'll take our cues from the markets as usual."

Sacz
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