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: j g cordes who wrote (33740)	1/21/1998 8:56:00 AM
From: donald sew	Respond to of 58727

Hi Jim, I did not get the MSFT PUTS yesterday since the bias for the market was still to the upside with the top coming today. For the short-term the overall market is overbought. Except for the DOW and a few other indexes, most of the other indexes have already reached or surpassed their previous peaks when the DOW was at 7980/8035(closing/high) on Jan 5. Additionally, there are a few indexes which have already set new highs like XAL, DRGs. The street has been interpreting the earnings as good which has pushed the overall market up, until IBM earnings. I totally agree with you that the IBM has now opened the doors for strong downside speculation. The question now is will the downside pressure be strong enough to set lower lows - so far I say no, but if negative announcements increase, especially from the bellweathers like MSFT then the possibilty increases. Seeya