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

To: ViperChick Secret Agent 006.9 who wrote (43347)	5/16/1998 1:25:00 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 58727

It seems the next few days should tell the tale, one way or the other. There has been a lot of zigging and zagging over the past couple of weeks. Any avoidance of a rate hike will probably result in a rally, I would think. But a rally that will catch early buyers off guard as it would be likely to be sold into. SP8M support is around 1110, so a bounce from there and a decline again would be a good short. A break there would also be a sign to short. The short then has to break the low from Thursday of last week at 1197 and then a target would be 1065. Keep in mind, That even a 10 or 20 % decline in the market would still not affect the primary bullish trend. This is because of the almost parabolic action in recent months. Neat stuff, eh? Oh the other hand, I just read an engrossing analysis that opined that it would be easier to convince Pakistan not to detonate an Atomic Bomb than convince the new paradigm investors that a cyclical top may be at hand. So who knows.