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Technology Stocks : Dell Technologies Inc.
DELL 114.44-3.4%Jan 30 9:30 AM EST
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To: JH who wrote (72820)10/29/1998 10:26:00 AM
From: JH  Read Replies (3) of 176388
 
Thread: as of yesterday's closing, the NASDAQ-100 index has reached a "triple-top" at around 1380. Beware, the risk-reward favors going short here. Despite of favorable sentiment for the group and high mutual fund cash levels, it may not be enough to punch cleanly through this tough resistance to challenge hew highs. I have been selling out-of-the-money calls and buying puts, with the belief that the recent rally is in the process of topping out.

If a genuine break-out happens, the rally MAY rise a hundred points to retest the old highs from mid-July, but that rise will not be easy. The catalyst for a temporary "pop" may be favorable earnings from CSCO next week. Conservative traders can consider shorting the break-out at 25 point intervals (25% of a full position each time, to average up).

Agressive traders should be outright short here.
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