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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: jef saunders who wrote (16652)	4/17/1998 8:07:00 PM
From: Jason Ghionis	Read Replies (1) \| Respond to of 94695

Jef it's tough to read the charts on the Internets. I mostly rely on MACD and as u said the trend is a tough one to go against. For overbought/oversold signals the MACD oscillator works as does the Money flow RSI. I look at stochastics from time to time but for the most part I've concluded that it's one of the best indicators to get yourself whipsawed. Today we had a nice sell-off in the group as the NASDAQ edged higher. However, i think you can't go wrong with October puts. Put 4 or 5 different stocks if you have to (SEEK, LCOS, AMZN, XCIT to name a few) All we need is a setback in the S&P and all specs are going to get pounded. As far as semis go I took a quick look at the SOX and although my gut is telling me that we could see a pullback to the 240-250 level, it looks like it's going hover around 300 for the next short while. Someone on this thread mentioned the IIX index options. As I initially suspected they're European-style, w/ very little liquidity and worst of all, the IIX is cap-weighted. With names such as SUNW, ASND, QCOM, NN and CSCO comprising the biggest part of the index, we're not looking at a volatile enough play.