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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Nancy who wrote (27682)	11/2/1997 5:33:00 PM
From: Tom Trader	Read Replies (2) \| Respond to of 58727

>>what is your near term view on the market direction ? Not sure Nancy--on the one hand we are moving into a period of seasonal strength which argues for a rally. On the other hand -- I feel that the sentiment numbers, at this time, don't support a good bottom. Too much complaceny, buying the dips, lack of fear, ettc. I read something that suggested that we would rally into the end of the year --seasonal factors and over-sold market-- and then break-down badly as the market reverses course, and at that point we'd take out the lows and create the environment for a bottom from which the bull-market can resume. There is a cycle low of some significance towards the middle of next year--according to some cycle gurus who I follow. One prediction that I will make--is that when the market establishes a low and then rallies, the ASEAN problems will still be there but the market will ignore them and all of what we have heard about why the market corrected will suddenly not matter. As for myself -- I'll follow the plan that I posted--for acquiring new positions. Am still flat the S&P futures--I cannot go long without first getting a sell signal--the way that my system works. Still long the bonds. Thanks for the suggestions on the stocks--I think that the tax-loss selling should create some opportunities as well. The better quality stocks that have been beaten up are likely to go down further over the next month--and that is irrespective of what the market does. Am looking to pick up a few which get to my entry levels. Have a good weekend