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

To: The Jedi who wrote (37540)	3/26/1998 4:56:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE ---------------------------- Just noticed that INTEREST RATES(TYX), COMMODITIES(CRB), GOLD INDEX(XAU) were all up today. It was especially interesting to see the huge jump in the XAU of 7.95%. Technically, it just made a major breakout to the upside surpassing 2 earlier peaks in a single day. The trend was already to the upside with higher lows. In the past I was incorporating the END-OFF-QUARTER/END-OF-MONTH rally into my projections but Nemer had indicated, and confirmed by my broker, that the actual deadline was today. I had originally that there would be a runup starting Mon/Tue which would take us up to a interim top by the 2nd week of April, now I am starting to feel that this may be the top, and we could pull-back at anytime now. Many have discounted the OPEC meeting on Monday, but it may have a stronger impact than most think. With interest rates just slightly under 6.00%, and commodities moving up steadily - such cannot be good for the stock market. I also checked many of the major international indexes, and technically they are all in the overbought range, even Asia. That cant be good either for the market. The MID/LONGER-TERM BULL-TREND is still intact, but I am getting the feeling that this interim pullback could start sooner than mid-April and could start within days. Not that I like to project targets but now strongly feel that 9000 will be the interim top, and we could start the pullback right here. If this pullback does occur, am looking at 2.5%-5%. After the pullback, it will be a strong buying opportunity again. Just heard on CNBC that ADBE, which ran hard today, just announced substantially worse than expected earnings. Seeya