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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: donald sew who wrote (8610)	11/15/1998 3:20:00 PM
From: Jerry Olson	Read Replies (3) of 44573

Don I did a looksee of the SPX and posted it here...without any noise just a hard look...please see... as for MU. i'd pass on this for a short...here's why..it built a base support at 33-34, it then flew up 15 boxes ato a 52 week high of 48...it just reversed down 3 boxes to 45...if it moves back up and prints 49 that would be a continuing BUY signal...The RS just turned POSitive on the stock..very very important...so the down side here is nil...of course if we selloff 1000 points, well then...you know...:>] On AMAT it's at the top of the chart...heavy resistance at 39-40, i think it will reverse down now from the highs and could go to 33-32.. I think Don you'd be better off hitting the Big Caps from the top...If Alan G does not cut on Tues, i would buy puts in the OEX and DELL....and as you know i own DELL...<gggg>>>or sell calls... In fact I'll buy the Nov OEX puts, and the DEC DELL puts for a nice trade "short violent and sweet".....i doubt we could stay stagnent after TUES either way.... I own DELL at 66 1/2(trading acct)...so i can do what ever I choose...I own Nov Options on DELL that could be dead...but i'll make it up on the down side...this stock should rebound Mon/Tues...to fill the gap to 69..but Tues could be bomb blast either way....can't wait...i got ants in my pants(as usual)...:>} should be interesting...

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