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

To: Rick C. who wrote (31954)	12/25/1997 8:15:00 AM
From: donald sew	Respond to of 58727

Rick C. Merry Christmas. The OSX gave a very strong signal of reversal yesterday, not just an average one. The OSX was up 3.86(3.89%) and there were only 2 more indexes (XOI,CEX) which were also up out of the 30+ indexes I watch. Since the technicals still say that the market will continue upwards within days if not immediately, I am still keeping my 115 resistance line as a reasonable target. Last night the N225(JAPAN) closed up 2.51% which is the second up day in a row. As indicated in my previous note, it also gapped at the open slightly. The candlestic formation was a "WHITE SEMI-INVERTER HAMMER", since it had a shaved bottom and an upper shadow that was larger than the body. A true hammer would have an upper shadow 2-3 times larger than the body. An inverted hammer is a reversal signal although not one of the strongest. For those following my XOI trades - UGH. This would be the 1st failure of a CLASS 1 BUY. Now its damage control time if Jan options are the play. If the market does move up, the technicals indicate that it is reasonable to see the 460 level, which is now lower than my previous position. For 460 to be obtained, my guitar calculations are indicating that the DOW needs to move up 200-250 points. Fortunately the XOI was the second strongest index on Wednesday up 4.08 points with the majority down. As for the HiTechs, the SOX and IIX are technically giving indications that they are the strongest in that sector. I have not been following the fundamentals or news on the OSX,XOI,CEX - but there are hints that these sectors my be the leaders for this short-term uptrend. I also understand that the XOI will be a major part of the DOW 5 and DOW 10 investment strategies due to their high dividend which should see in flows of cash in Early January. MSFT - CLASS 1 BUY NDX - CLASS 2 BUY BKX - CLASS 1 BUY (would hold off since bad news so recent) Merry Christmas all.