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

To: Bart who wrote (36166)	3/6/1998 10:22:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

Bart, Yes I do believe strongly that any upswing will be a setup for a bigger drop. I think that this any upswing will be the last one before the bigger drop. I am still sticking to MAR 11-13 for the bigger pullback. From now till then, we could see intraday volitility but overall flatness, with the short-term trading range of 8450-8550 on the DOW. It is fair to say that the NAZ will not be able to return to its recent highs by Mar expiration (actually do not feel it can until much later in the year), therefore it will be extremely tough for the DOW to set new highs prior to MAR expiration. On the other hand the market could start selling off today, and since we are back near 8500, it would not be a bad time to initiate puts. The upside is now limited for the short-term. So far the NEW HI/LO ratios are higher than yesterday, but still below yesterday's averages; therefore it is still in a declining pattern. Seeya