Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: MonsieurGonzo who wrote (32571)	1/9/1998 6:47:00 AM
From: donald sew	Respond to of 58727

INDEX UPDATE ------------------------- As indicated previously I am starting to see technical signs of further weakness for the overall market (Mid-Term). With any new long positions, be very cautious. This does not mean that the market cannot oscillate up, just that future upswings may be mininized and pullbacks increased. The short-term technicals for the overall market is in the lower half of the mid-range approaching the overbought range. CLASS 1 BUYS to obtain at the lows for today: --------------------------------------------- OSX (previously indicated it was not but rechecked and it is) BKX CLASS 2 BUYS: -------------------------------- XOI (this one scares me) CEX SOX (borderline CLASS 2, actually turned yesterday) Basicly, the Asian markets were down across the board, but the media would probably not mention that the N225 was positive for the day. They we probably say that it was down 24 points. The N225 gapped down at the open by about 60 points to 14941, and closed up at 14995. Per the candlestick it was a small WHITE BODY with a very long lower shaddow and and a small upper shadow. Basicly, the N225 started its reversal upwards. It appears that Indonesia is now coming into focus with their problems, and HK dropped big. Not looking forward to if/when China comments negatively. The futures are down 7.5 right now; therefore if it remains there then we should be down at the open. We also have economic numbers out this morning and if they come in too anti-inflationary, that may intensify the negativity. If the market goes substantially negative today (100+) it should reverse Monday/Tuesday and could be as early as intraday today. Frankly, not to cause grief for those who are long, but a strong down market today would speed up the reversal process. As of this moment I am not sure if I will go long. As I have indicated in previous posts, I feel the environment now is great for a strangle strategy due to the volitility. For the moment, I prefer to initiate my strangle from the PUT side rather than the CALL side. So I hope the market moves up soon to initiate my PUTs. Seeya