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

To: donald sew who wrote (36434)	3/10/1998 12:21:00 AM
From: mozek	Respond to of 58727

Thanks Donald, Fundamentally, we seem to be approaching sale prices in many of the high techs while DOW stocks are more overpriced than ever. I purchased DOW puts last Thursday & NDX puts on Friday. I also purchased some more DOW puts today. I've almost doubled on my NCZOFs, and I will probably sell them tomorrow, leaving the DJXOGs, which have not treated me well. I have to admit, I'm concerned that the DOW will get another boost from the NDX. Today looked like a fairly strong reversal on the DOW, but many of the NDX components are sitting on strong supports. February's run seems to have been saved from falling a number of times by strength in one index overcoming another's weakness. I believe that we are getting set up for a substantial correction, but I think we'll see more froth until we get warnings from some big cap DOW stocks. Lisa, if you read this, thanks for pointing out the fact that Friday really made no sense. I shifted my strategy a bit, but did not abandon it, though I was getting close. The end result was making up for my CPQ loss with profit on the puts ;-\| Mike