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

To: Wayners who wrote (5973)	2/11/1998 10:06:00 AM
From: Chris	Read Replies (2) \| Respond to of 42787

Subject: Tech Stock Options \| Previous \| Next \| Respond \| You have 1 unread message To: Kevin Walsh (34915 ) From: donald sew Wednesday, Feb 11 1998 9:00AM EST Reply # of 34918 INDEX UPDATE -------------------------------- Sorry for not getting back till now. I have been trying to keep up with the number of private messages and emails. After yesterday's performance, I am still calling for a small pullback with certain amendments. I still feel that Friday will be the latest day for a profit taking pullback and that next week overall will be down due to expiration week. That is not to say that every day next week will be down. Originally I believed that the top of this run would be 8300, but we are already there. Unfortunately, I am adjusting my upside top for the midterm(30 days) to 8500 on the basis that the NAZ will make an attempt to meet/exceed its all-time high which is about 36 NAZ points higher. Using a 5:1 ratio as a rule of thumg that would be about 180 DOW points. I have always stated that my system is more based on time than it is on price targets, since my system is not based on price/support/resistance lines. Unfortunately, there can be large price flucuations intraday. My time targets have not changed. As I have said before the latest that this market will start to pull back is this Friday afternoon and will continue into next week, but not without a whole lot of strength. The key questions are how much higher and how much of a pullback. I do not think that the DOW will hit 8500 in this short-term cycle, but could approach 8400. As for the pullback, the minimum should be 150 points, but should be closer to the 300 point range, so I would say the liklihood is in the 250-325 range, from the top. If the top is 8400 then the pullback should be around 8050-7975. Keep in mind, I am talking intraday. During the strong summer runup, the average pullback was in the 150+ range. My short-term technicals are saying that today is the CLASS SELL buy-in day. During strong trends, I have noticed that my buy-in days are one day early, so lets say TODAY/THUR at the highs of the day. After Feb expiry, the market should continue up and attempt the highs again, but as we get into Mar the uptrend should stall as earning warnings for 1st quarter will start to come in. As for my newer positions, I started getting Puts when the DOW was at 8200 and yesterday I added another small position in the DJX 84's for FEB and MAR when the DOW was around 8300. I will add my last position on Friday if the DOW continues up/has not started its pullback, since I feel that Friday's highs will be the top for this short-term cycle, which has been my original position. 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

To: Wayners who wrote (5973)	2/12/1998 12:26:00 AM
From: Art M	Read Replies (1) \| Respond to of 42787

Wayne, The daily chart starts to look sick on the 4th day back(the sixth I think) with a dark cloud cover after the previous rise to about 44. The next two days(9th & 10th)seem to confirm this pattern. Today, obviously, it dropped to around 41. The previous high(approximately 50), right around the first of the year, showed a harami cross and confirming patterns, indicating a fall in the price. The weekly chart doesn't look any better, with an engulfing bearish pattern this week, albeit on low volume. All in all it doesn't look good. Support appears to be 37.5 or so, resistance 51. Hope you got in at the first of 97 and saw the rise from 16 to 51. Best of luck - Art