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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: jmac who wrote (5933)	2/9/1998 10:38:00 PM
From: Chris	Read Replies (1) \| Respond to of 42787

just looked at my charts.. pullback has just started.. we have a maximum of 3-5 days left of pullback.. the question is how far do we pullback.. AMAT earnings are coming out tomorrow. very busy these days... that's all for tonight from me..

To: jmac who wrote (5933)	2/9/1998 10:41:00 PM
From: Chris	Respond to of 42787

donald sew has been on tgt.. and we are concurring at times.. which is good.. Subject: Tech Stock Options \| Previous \| Next \| Respond \| You have 2 unread messages To: Kevin Walsh (34847 ) From: donald sew Monday, Feb 9 1998 11:45AM EST Reply # of 34857 INDEX UPDATE ------------------------------- So far the overall market is flat(plus or minus 30 DOW points). So far the highest the DOW got was up 25 points. If the DOW goes no higher it would be 5 days in a row that the DOW's intraday high remained within 50 dow points. For the candlestick watchers, if the intraday highs and lows remain the same (UP 25/DOW 19), and the DOWS closes flat, it would be a good reversal signal to the downside. Now if the trading range is no greater, such will intensify the reversal signal. So fat the range between today's HIGHs and LOWs is only 45 points - so far. I am not saying it will stay in that range, just stating that if it does. I sold my my OSX MAR calls for 16 1/8, which I obtained for 11.5 for about a 40% gain. Acquire another small position in the DJX MAR 83's for 2.50 when the DOW was up about 10-15 DOW points. I would have been more aggressive by going with FEB calls and larger volume if today was WED/THUR. Subjectively, I feel that Friday should be a down day in light of the 3 day weekend and expiration week. Here's a little technical tibit - take a look at the DOW peaks in AUG, OCT, and DECEMBER. I am not implying that if we do get a pullback this time that it will be as strong as those in AUG,OCT,DEC. But take a look at what those months did during expiration week. Subjectively, one can say that OCT and DEC was still during a time of uncertainty, but look at at AUG after the huge runup, the DOW still dropped about 575 points by expiration date. The high was 8298 on AUG 7 and on AUG expiration day(AUG 15) it closed at 7695. The total range for the pullback was about 600 points. I am still not saying that if this pullback occurs that it would be as much as the one in AUGUST after the big summer runup, but lets say that it only pullbacks 1/2 of the AUG pullback, that is still 300 points. This recent pullback can be argued that it is still not the same as the one in the SUMMER, and I agree, but to say that there is no chance of a pullback is not a healthy position, since the market can pull back at any time. The key right now for me is how much. Seeya \| Previous \| Next \| Respond \| View reply to this message View SubjectMarksBookmark this Subject Return to Puts, Calls, and other Options One or more words separated by spaces: Subject Titles Only Full-Text Messages with Links <Picture> Send questions and feedback to webmistress@techstocks.com Terms of Use Subject: Tech Stock Options \| Previous \| Next \| Respond \| You have 2 unread messages To: glen dickerson (34849 ) From: donald sew Monday, Feb 9 1998 11:59AM EST Reply # of 34857 INDEX UPDATE - INTRADAY -------------------------------- Near the open today the DOW was up about 25 points and the NAZ was up about 7 points. Each time the DOW dropped the NAZ dropped, but each time the DOW rebounded slightly, the NAZ rebounded much less. Right now the NAZ is down 6.56 with the DOW down 18. Earlier this morning when the DOW was down 18, the NAZ was basicly flat. Looks like the NAZ is weakening at a greater pace than the DOW so far. Of course the market can turn around on the dime and head up strong today, but the chances of that happening today is declining rapidly. Subjectively, the chances for the market to rebound to the upside as we get closer to FRI, a friday before a 3 day weekend and expiration week, should also decline. Seeya \| Previous \| Next \| Respond \| View SubjectMarksBookmark this Subject Return to Puts, Calls, and other Options One or more words separated by spaces: Subject Titles Only Full-Text Messages with Links <Picture> Send questions and feedback to webmistress@techstocks.com Subject: Tech Stock Options \| Previous \| Next \| Respond \| You have 2 unread messages To: donald sew (34852 ) From: j g cordes Monday, Feb 9 1998 1:41PM EST Reply # of 34857 Don't worry Don, nobody would know what to do with a 500 point pull back anyway... We seem to be distributing nicely in this area... the wall of worry psychology has melted a little. Some profit taking is in order. Take care. Jim