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

To: Broken_Clock who wrote (34685)	2/5/1998 8:12:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

Dave, All of my technical indicators are showing reversal to the downside, which confirms the ELLIOT WAVE reading. I do not use the ELLIOT WAVE in my specific system, but I am familiar with it. Yes we are at the top of WAVE 5. But as I stated in my last index update - it looks like we have a runaway locomotive, at least for this morning/today. It will turn down soon, if not now or in a few days, then latest by FEB expiration week. If the market does not pullback in the next few days - I will really be loading up on PUTS for/near expiration week. If this market continues to run for another week and we approach 8300 on the DOW, the downside should be alot stronger than most would believe. I truly dont believe that this market can continue to run this hard for another week, but I am not going to stand in front of a running locomotive to find out. gggggggggggggg Seeya