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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: Iris Shih who wrote (18349)	11/10/1998 7:37:00 PM
From: Clint E.	Read Replies (3) of 68115

Hello Iris. As I said last week, I expected chip makers to stay strong ahead of DELL. I think the INTC news was somewhat expected and reiterates what was already known to many, namely expectation of a good end-of-year quarter for PC makers and tech. stocks. Don't forget that MSFT said the same thing a month ago. I expect some short-lived boost in its stock and the NAZ but nothing more so I am not as excited as you are. Its effect is more longer-term oriented and should help us on days when the NAZ is down 30-40 points. So far this week, both NAZ and DOW have behaved and traded within the range that I explained on Sunday(on Monday we saw the surge, drop, and snapback in the NAZ and the drop and snapback in the DOW all in one day). What I like to add is that I expect 1900-1920 as the top of our trading-range-to-be. Therefore, what I am saying to you is that the top is just around the corner. Clint

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