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

To: donald sew who wrote (32087)	12/30/1997 9:19:00 AM
From: j g cordes	Respond to of 58727

Morning Don... this is a "relief that the Asian/Korean problem is fixed rally," not a sucker's rally. :~) Either way, its belching after a bad dinner... sorry to be so coarse on a Tuesday morning. As a trader one can't be emotional about where it comes from, just ride what's coming at you. They're also throwing MSG in an old stew... spicing things up with something of no food value. Example, Morgan Stanley is intentionally reiterating its strong buy on AT&T this morning... why bother, because we had a 100+ day yesterday, that's why... all within the game, reminding us that T is going up because they said so.. If other houses are sharp they'll be promoting their old picks also while we have this "relief" rally. Since we're in the first third of a trading channel that's been worked over before, there's room upside without much worry until we once again approach OEX 464-66 (that number rings a bell), or Dow 8000 area... who's going to get picky its time to bring in a new year. Jim As a contrarian I'm in OEX puts late yesterday!

To: donald sew who wrote (32087)	12/30/1997 10:06:00 AM
From: craig crawford	Read Replies (2) \| Respond to of 58727

<< Not sure what you mean by a sucker's rally. Did you mean that it would drop immediately, meaning today? >> I don't have a crystal ball. I can't tell when the market is going to turn. I just know that the rally won't hold up. << Please be more specific in what you mean as a sucker's rally and where you think the top is and why? >> A suckers rally meaning the fundamentals of the tech sector are getting weaker and weaker yet the averages look to be rallying. The Nasdaq showed a gain of 26 points yesterday yet decliners were barely edged out by advancers. New lows on the Nasdaq far outpaced new highs. All I'm saying is the rally looked rather narrow to me which shows that except for a few heavily weighted stocks like MSFT, CSCO, DELL the rest of the market looked to be weak. This means the foundation for techs going forward is weak and I believe we will see the techs move lower. I don't have a target figure set for the Dow or the S&P or the Naz. I watch the action in the stocks I follow and trade accordingly. The Dow could go to the moon for all I care just as long as my techs do what I want.