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

To: The Perfect Hedge who wrote (33299)	1/15/1998 1:47:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

Glen, Just rechecked the technicals on the OSX and they are basicly smack in the middle, which means it can go either way. The bias is still to the upside for the OSX, but that does not mean that every day it will be up. As for the downside in the overall market, I set the bottom for this immediate cycle at 7650-7700, not to say that it will definitely go that low. So my question then, is I am correct that if the maximum immediate pullback is in the 7650 range where would the OSX be. I dont see the OSX dropping too much, and feel very strongly that you will not see anywhere close to 89 in the immediate future. The next resistance line is 103 for the OSX and feel that can be achieved in the near future. From some quick calculation OSX will be in the overbought range when it approaches 100. If you see a break of 7650 on the DOW in the very short-term, that's is when one should consider getting out of OSX stocks. Seeya