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Strategies & Market Trends : Tech Stock Options
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To: pete who wrote (56367)10/26/1998 2:44:00 PM
From: donald sew  Read Replies (1) of 58727
 
Pete,

For the short/mid-term, I feel that the bottom at 7400 is safe. Long term, I am not convinced yet.

For the next few weeks feel that it will be tough to break 8650-8700 range unless we first pullback some more first.

Right now most of the short-term technicals are near/in the overbought region, so I think the greater possibiity is that we first drop some then up.

If anyone is watching the VIX, it got close to 29. The 28 range was a solid support(SELL SIGNAL) in AUGUST when the DOW was in the 8600-8700 range.

Seeya
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