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Strategies & Market Trends : Tech Stock Options

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To: James Strauss who wrote (56728)	10/30/1998 12:29:00 PM
From: donald sew	Read Replies (2) of 58727

Jim, The pullback next, that I am expecting, should be small, and the following upswing which should start by the end of next week, could be extremely strong. If it is too strong and we get close to 9000, I believe the chances that the FEDs will reduce rates on NOV 17. The probability of the market rising 400-600 points after next weeks pullback is increasing. I think next week's pullback has maximum downside of 8300 on the DOW, if it even gets that low. I feel more comfortable with 8400-8500, then add 400-600 points to that. Next week will be a good time to go long. If we do get to the 8800-9000 the NEW HIGHs better get to the 150-250 range, or there will be a strong selloff if the FEDs do not reduce rates. Again I am not saying a break of 7400, just sticking to my range trading trend. I feel that the trading range could become 9000-8000. Seeya

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