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To: Electric who wrote (8386)	5/11/1998 10:24:00 AM
From: Chris	Read Replies (1) \| Respond to of 42787

txn -- try to get in .. ibm up 2+ woo hoo..

To: Electric who wrote (8386)	5/11/1998 12:15:00 PM
From: Chris	Respond to of 42787

mr sew and i are thinking the same way.. i belive we are now in basing mode.. no new highs.. Talk : Puts/Calls : Tech Stock Options \| Previous \| Next \| Respond \| To: Tom Trader (42921 ) From: donald sew Monday, May 11 1998 12:02PM ET Reply # of 42927 INDEX UPDATE - INTRADAY ---------------------------------- As strong as the market appears to be strong with the DOW up over 100 there are quite a bit of weakness or lets say lack of strength: 1) 1/2 of the DOWS strength is due to 3 stocks (DUPONT/GM/CARBIDE) 2) NAZ is up only 3, using the 5:1 ratio thats 15 DOW points 3) SOX,YTK,DDX,CWX,BTK are now negative. These are not major indexes, except for the SOX, but is still a hint of weakness 4) Important DOW indexes (DRG,BKX,XBD,XAL,XOI,PNX,TRX) are only up slightly 5) The integrity of the TRIANGLEs which I mentioned previously are still intact. 6) The NEW HIGH/NEW LOWS ratio is low 7) Volume is light. 8) Interest rates right now at 6.002%, up substantially today I am still staying with my original position that this rally will end in the 9200-9300 range for the DOW, and the DOW was already a few points shy of 9200 intraday. I am now feeling stronger that the probability of the DOW hitting 9600 range this week, is declining substantially. I still feel that the top of this short-term (1-5 days) rally will occur WED/THUR, and that will be a good time to initiate PUTs again. Seeya