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

To: The Jedi who wrote (33900)	1/23/1998 7:41:00 AM
From: Patrick Slevin	Read Replies (2) \| Respond to of 58727

Crude Scary thing about Crude is (in the futures market) that late winter storms could cause a bear trap. Then, too, there's the possibility of military problems. Otherwise I agree that Oils (stocks) seem to be going through distribution.

To: The Jedi who wrote (33900)	1/23/1998 8:39:00 AM
From: donald sew	Respond to of 58727

Kiri, In the specific case of the OSX, the technicals were extremely high, it was severely overbought and was a CLASS 1 SELL with the buy-in day as Wed. If the earnings were what the street expected and forward looking statement was just in line, not good or bad, the OSX would have started to pull back anyway, but it would not have pulled back as much. On the other hand, hypothetically, lets say that the technicals we in the oversold region and it was a CLASS 1 BUY, not SELL, and the OSX was around 90 just off the bottom. If that same news came out in such a senerio, would the OSX drop 10 points more as it did yesterday. It would still definitely drop, but do not think that it will drop as much as 10 points. Please understand that when I say technicals, I am looking at my technicals and it is not the same that everyone else is looking at, in fact two of the indicators I have, no one else has since I developed it myself. The technicals indicated that the OSX was to pull-back anyway, so the news did not override it but it enhanced the downdraft. However, my GUITAR actually gives a rating to each index as to its strength relative to the other indexes, whether its in a downtrend or uptrend. The day before, my guitar was indicating that the OSX was the strongest index in the whole market at the same time the other technicals were saying that it would start to pullback, so it does not matter as to the direction of the trend. The news yesterday over-rode my GUITAR and made the OSX the weakest index along with the XOI. Just wanted to explain what I am looking at with a little more detail. Hope I did not bore you, I write too much. Seeya

To: The Jedi who wrote (33900)	1/23/1998 9:10:00 AM
From: donald sew	Respond to of 58727

INDEX UPDATE ---------------------------------- The bias for the overall market is down today, but the futures are up slightly(not aware of fair value at this time). As I had indicated in previous post, I felt that this forthcoming short-term downtrend will be limited. I still do not see us setting lower lows, but the opposite - higher lows for this immediate down cycle. I have changed my larger trading range from 7350-7850/7900 back to 7550-8100. For those watching the NDX, yesterday was the first day it showed signs of weakness closing down near the bell. In a fairly strong down market, the NDX was actually up for most of the day, with the help of MSFT. The technicals for most of the HiTech are still very high near the overbought range but have already entered the upper mid-range. For those playing PUTs be cautious and nimble. Today should still be a down day but if there is substantial good news then such could over-ride the technicals. As I said over and over, fundamentals/news over-ride technicals. News, both good and bad is flying all over the place right now, so the technicals are going for a spin now. Seeya