To: Esteban who wrote (789 ) 11/25/1997 4:58:00 PM From: MonsieurGonzo Read Replies (2) | Respond to
Esteban; RE:" maybe up now ???"on fire today - I sold my LMFAH JAN2000 140 LEAPS into strength. Sold short some DOW @ 97-1/16 and TAN @ 43-3/4 right before close.SOX.X,D was a Hammer until the Evening Attack , then it was a Doji , and then it bounced up a little to just be kinda "spinning" there {grin}. INTC found support on its Daily Chart UpTrend Line and VLSI on its Monthly Chart UpTrend Line. The semis sure are beat up - VLSI seems WAY overdone, and I thought seriously about just buying shares down there, but took the more conservative approach and sold those VLSI JAN 20 PUTs instead.SPY,90 does a good job of showing that Up-and-Down trading range, failing to bust out (~OEX 459?) or break down (~OEX 453?) today. SPY,60 had me convinced that we were gonna tank after the upside-down Doji appeared - but it was cancelled by the following hour rather than confirmed.INDU,195 and NDX.X,195 (half-day, Session I and Session II candlesticks) show session I as an upside-down Doji Hammer -like candlestick followed by all the strength in Session II today, in both indices.INDU,D is the whole story behind the OEX so far, IMHO.Second Marching Soldier , followed-through on Friday. Then a retracement back to the original DownTrend Line on both Monday's Bearish Engulfing and today's candlestick, both MON and TUE kissing that DownTrend line and finding support; Today's just barely failed to pierce Monday half-way. INDU's UpTrend remains intact , and is performing by some T/A textbook.NDX.X,D looks similar to INDU,D but is obviously much weaker. People will note DELL,D 's failure to really rally, but what happened to CPQ,D ??? It's failing to follow DELL, which is unusal - and the CALL volume on CPQ has been HUGE. CPQ,195 shows Session I was just relentless selling, and Session II a failed rally, making what might be an upside-down Hammer ?? who knows (^_^) IBM was just stormin' today, like MSFT.PSE.X,D is not impressing me the way it is you, Esteban - it's feeble looking, man {grin} And all PSE.X,90 did was kiss his DownTrend Line with a little Shooting Star and close on a Doji note ! ...psychology-wise, folks aren't motivated to buy TechStocks (yet) and DELL/CPQ investors are probably feeling somewhat let-down, don't you think ?INDU,D 's damn UpTrend to end before I extend my long OEX PUTs.
