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

To: joe smith who wrote (37200)	3/23/1998 11:40:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE ----------------------------- The BUY-ON-DIP mentality did not worked that well, although throughout the day there were attempts. I'm smart enough to realise that this market could rebound immediately to the upside, but the technicals are indicating that there should be follow-thru to the downside tomorrow. Even though the NAZ was up, the ADVANCE/DECLINE ratio was in favor of the declines, and same for the UP/DOWN VOLUME ratio. Also the NEW HIGH/NEW LOW ratio also declined. Only the XAL and RLX are in the oversold region, but on the other hand the SPX,XOI,OSX are still/now CLASS SELLS. Also, most of the indexes are only in the upper middle range or still borderline overbought; therefore on just a technical basis, not price basis, there is still plenty of downside. Well, lets see tomorrow if the BUY-ON-DIP wins out. Good nite all

To: joe smith who wrote (37200)	3/24/1998 1:57:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

<ps we had 6 straight up days in feb> I do not doubt this, I just say it's rare. Referring to a commentary, I read that -There have only been 3 other times the market crossed and closed above 2 new "100"levels in two consecutive days -Only 13 other times in the last ten years that have seen the DJIA close positive Monday through Friday -Friday was the first option expiration Friday to post +100 or more points -The DJIA posted 5 consecutive Record Closes....The "record" for a streak like that was 7 in February 1996. -In addition, the DJIA posted 5 straight Intraday Record Highs AND Record closes. The "record" for this is 6, in 2/96 and 6/97. -The longest consecutive streak was 11 days. with the DJIA gaining a total of "only" 302 points. Last week the DJIA gained 311 points. So the fastest run in history. (Once in 1996 over 13 days it gained 352 points with one negative day.) So all I was saying was that I was looking for tomorrow to be weak; I'm not looking for a sharp decline as yet. I just believe it cannot stay this hot, that's all.